Facebook buys facial recognition firm Face.Com

Face.Com's software is used for facial recognition on photos loaded on its websites and through mobile applications.

"Facebook has acquired Face.Com," Face.Com Founder Gil Hirsh has said on his blog.

The announcement comes about two months after Facebook shelled out USD 1 billion for photo-sharing service firm Instagram.

Although financial details of the deals were not disclosed, media reports have pegged the transaction in the range of USD 60 million to USD 100 million.

Announcing the deal, Hirsh said, "Facebook is a part of your life every single day. We keep up with our friends and family, share interesting (or mundane) experiences from our daily lives, and perhaps most importantly for us, we share a lot of photos."

"...By working with Facebook directly, and joining their team, we'll have more opportunities to build amazing products that will be employed by consumers