Facebook acquires ID authentication firm
Facebook to get a better insight into advertisers
American social media giant Facebook has acquired a Boston-based software company that authenticates identification cards issued by the government.
On Tuesday, Confirm Inc. announced that it had signed a deal with Facebook. This move could signal that the firm is working on technology to help it understand people who buy and click on advertisements.
As Reuters reports, regulators in the US have slammed the company in the past over its inability to profile the people buying advertisements - especially those related to elections and other political matters.
"We're excited to announce that we have agreed to be acquired by Facebook! This is the culmination of three years of hard work building technology that will keep people safe and secure online," said Confirm.
Although no specifics were announced, Confirm explained that the deal follows three years of extensive research on identification techniques. The firm has been working on software to improve internet safety.
Facebook has also confirmed the deal, saying that the firm's "technology and expertise will support our ongoing efforts to keep our community safe."
Sources with an understanding of the deal told Reuters that, when it's completed, Confirm will scale down its operations. Existing employees will work for Facebook in Boston, too.
It's thought that the company currently employs around 26 people and works with over 750 clients. However, it's unclear if Confirm will continue to work with them now that it's owned by Facebook.
"When we launched Confirm, our mission was to become the market's trusted identity origination platform for which other multifactor verification services can build upon," explained Confirm.
"Now, we're ready to take the next step on our journey with Facebook. However, in the meantime this means all of our current digital ID authentication software offerings will be wound down."
The firm added: "We would like to thank our customers, partners, investors and advisory board for their support and help along the journey so far. We're proud of what we've been able to accomplish together and we look forward to the future at Facebook!"