Facebook has moved to acquire a Baltimore based social networking company, WhoGlue.
According to an article in the Baltimore Business Journal, WhoGlue founder Jason Hardebeck revealed that his company was acquired by Facebook last month.
WhoGlue makes software networking software that allows people or organisations to build their own private social networks. The company counts the U.S. Naval Academy Alumni Association and the Ohio State University Varsity "O" Alumni Association among its clients.
Under the terms of the acquisition, the social networking giant acquired WhoGlue's networking tools and purchased shares of 10 of its stakeholders including Siemens AG. It was revealed that it was not a talent acquisition; Facebook was mainly interested in the software.
"We can confirm that we acquired some technology developed by WhoGlue. The WhoGlue team isn't joining Facebook and instead will continue working on its own social networking software for organisations," said Facebook in a statement to TechCrunch.
Hardebeck said that he bought back some trademarks and software from Facebook, which would let him continue running the company as WhoGlue LLC. He said that the company is on the look out for private investors.