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Facebook officially completes Instagram acquisition

Facebook stunned the tech world back in April when it announced it was acquiring photo-sharing app Instagram in a deal valued at $1 billion (£625 million). Now, five months later, the acquisition is finally a done deal.

"Our deal with Facebook has closed, which means we can now work together to evolve and build a better Instagram for everyone," Instagram said in a blog post this afternoon.

The Instagram team is "making the short move" from San Francisco to the Facebook offices in Menlo Park, California, the blog post continued. Don't worry about Instagram going away, though. The app and all its features will stay the same, Instagram said.

Users should be happy about that, as they continue to post photos to Instagram in droves. Fans of the two-year-old app have shared more than 5 billion photos to date, Instagram said.

For its part, Facebook on Thursday also announced that the deal is closed, and welcomed Instagram into its community. The social network reiterated that it is committed to building Instagram independently, noting that its engineering team and infrastructure will help Instagram grow. Facebook also said it would call on the Instagram team to help improve its own mobile experience.

"So many of us at Facebook love using Instagram to share moments with our friends," Mike Schroepfer, Facebook's vice president of engineering, wrote in the post. "And for so many people, sharing photos with friends is an important part of the Facebook experience. That's why we're so excited to bring Instagram to Facebook and see what we can create together."

Last month, the Federal Trade Commission and the California Department of Corporations approved the purchase.