Founded in 2001, Mobile Technologies is best known for
developing the Jibbigo mobile application for speech-to-speech language
translation.
"I'm excited to announce that we've agreed to
acquire Mobile Technologies, a company with an amazing team that's behind some
of the world's leading speech recognition and machine translation technology,"
Facebook's Product Management Director Tom Stocky wrote in an online posting.
"Voice technology has become an increasingly
important way for people to navigate mobile devices and the web, and this
technology will help us evolve our products to match that evolution."
In a separate statement, the smaller firm said it was
"excited to announce that Facebook has agreed to acquire Mobile
Technologies and that once the deal has closed many of us will be joining the
company at their headquarters in Menlo Park, California."
Despite having over one billion monthly users, Facebook
has struggled to climb out of the wreckage of its disastrous stock market debut
more than a year ago.
The social network has appeared to be on an upward
trajectory, however, following an earnings report last month that showed a big
jump in mobile advertising revenue and sent shares soaring more than 40 %.
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