face Facebook buys facial recognition firm

Facebook has bought facial recognition firm Face.com for up to $60 million, according to sources close to the company.

Facebook has bought facial recognition firm Face.com for up to $60 million, according to sources close to the company.

 
Facebook is to pay between $55 million and $60 million for the company, lower than the up to $100 million suggested by early reports, and the deal will involve cash payments and a transfer of Facebook shares, the exact quantity of which is unknown.
 
Facebook already employs the technology developed by Face.com to identify users and tag them in photos, but Face.com also offers similar facial recognition services to other firms. This deal will likely see the technology becoming exclusive to Facebook or licensed out for a fee, the latter of which seems unlikely, given Facebook will want to tout this feature over rivals like Google+.
 
facialrecognition Facebook buys facial recognition firm
 
Face.com was set up in 2009 in Israel and has just 11 employees,  all of whom will now join the team at Facebook.
 
“By working with Facebook directly, and joining their team, we’ll have more opportunities to build amazing products that will be employed by consumers – that’s all we’ve ever wanted to do,” said Face.com in a statement.
 
Facial recognition software previously got Facebook into trouble, however, due to concerns about user privacy. Uproar last year forced the company to provide an easier method to opt out of the feature, but clearly Facebook believes it is worth the hassle for the long-term viability of its popular social network.
 
The deal is expected to close within the next few weeks.
 
Source: Reuters