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Wit.ai

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Facebook (Nasdaq: FB) Buys Wit.ai in First Acquisition of 2015

By , Contributing Writer, Money Morning -

Nasdaq: FB

Facebook (Nasdaq: FB) announced its first acquisition of the year today (Tuesday): voice recognition startup Wit.ai.

According to Wit.ai, its technology can "turn speech and text into actionable data." Facebook did not disclose the amount it paid for Wit.ai, nor its future plans for using the technology.

Here's a look at what's behind Facebook's first purchase of 2015 - and what it could mean for the FB stock price...