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Facebook buys customer-loyalty application Tagtile

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Facebook has been on a bit of a mobile spending spree lately.

The world's biggest social network has acquired the team of developers behind customer-loyalty application Tagtile; the start-up said on its website that Facebook was "acquiring substantially all of our assets." Financial details of the deal weren't released.

"It's a huge opportunity for us to take our goal -- helping businesses grow -- and do it on a much, much bigger scale than we could have on our own," Tagtile said. "We're excited by what lies ahead for us at Facebook."

In an emailed statement to Bloomberg, Facebook said: "We're happy to confirm that Tagtile's founders are joining Facebook, and that Facebook is acquiring substantially all of the company's assets."

Tagtile says it makes marketing and managing customers "easy and enjoyable."

"We use our merchant dashboard to get up-to-the-minute information on your stores," the San Francisco company says on its website. "Track your customer base, the frequency of their visits, and use our built-in marketing tools to send custom offers and notifications directly to their phones."

Two executives -- co-founder and CEO Abheek Anand and co-founder and head of products Soham Mazumdar -- are listed online.

The news follows Facebook's announcement earlier this week that it would pay $1 billion to acquire popular photo-sharing app Instagram.

The moves come ahead of the tech giant's IPO, expected next month.

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