Face.com, the Israeli company known for its facial recognition technology, has been finally acquired by Facebook. The Israeli company released this information in a blog post on Monday.

There were rumors roaming around online about Facebook trying to acquire Face.com for its facial recognition technology. The social networking company may use this technology to start the long awaited mobile tagging feature. Multiple sources believe Facebook acquired this company for about $55-$60 million with a mix of cash and stock. One of the notable features of Face.com is its mobile facial recognition and the social networking company is going to make the most out of it.

Facebook users who upload images from mobile don't get to tag images after uploading now. But after adding this technology to the social network, users would be able to confirm tags instantly after uploading. It is an important feature as tons of untagged images are uploaded to Facebook daily via mobile.

"Facebook has acquired Face.com! Our mission is and has always been to find new and exciting ways to make face recognition a fun, engaging part of people's lives, and incorporate remarkable technology into everyday consumer products. If you're anything like us, 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," Face.com CEO Gil Hirsch wrote in his blog post.

Facebook has also purchased Instagram recently for $1 billion, which makes it clear that the company is currently focusing on the mobile photos. There is no information available on the terms or the amount Facebook paid for the deal yet.