Facebook announced the acquisition of CTRL-labs on Monday, for an undisclosed sum. A report in Bloomberg said Facebook paid somewhere between $500 million and $1 billion for the company, citing anonymous sources.
"The vision for this work is a wristband that lets people control their devices as a natural extension of movement," Facebook executive Andrew Bosworth wrote in a blog post announcing the deal.
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- Instagram is warning users of popular social-media-management tools like Buffer and Hootsuite that their accounts have been 'compromised'
- Facebook is launching a $149 camera that sits next to your TV and lets you video chat with your WhatsApp and Messenger friends
- Facebook has partnered with Ray-Ban's parent company to create smart glasses