Can you say "acquisition" in German, Czech, or Japanese? Thanks to its latest acquisition, Facebook (NASDAQ:FB) probably can. The company's director of product management, Tom Stocky, announced in a status update that his company has agreed to acquire Pittsburgh-based Mobile Technologies. The privately held company specializes in speech-recognition and translation technology. Terms of the deal were not made public.
In the status update, Stocky waxed enthusiastic about the potential its new asset's offerings hold for Facebook. "Voice technology has become an increasingly important way for people to navigate mobile devices and the Web," he wrote, "and this technology will help us evolve our products to match that evolution."
Mobile Technologies was founded in 2001. Its best-known product is the Jibbigo translation app.
Fool contributor Eric Volkman owns shares of Facebook. The Motley Fool recommends and owns shares of Facebook. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.