Facebook buys Masquerade Technologies, ups ante with Snapchat

Facebook (NASDAQ: FB) has added a face-swapping app to its portfolio.

The social network recently acquired Masquerade Technologies, also known as the company behind the popular MSQRD app, for an undisclosed sum. 

Under the terms of the agreement, Masquerade Technologies will partner with Facebook to integrate its technology and empower users to "continue to record fun selfies and keep using the product." Masquerade Technologies said MSQRD users should expect new features as well.

"We're excited to join forces with Facebook and bring the technology to even more people," Masquerade Technologies CEO Eugene Nevgen wrote in a blog post. "Within Facebook, we're going to be able to reach people at a scale like never before. For starters, we'll be able to bring our technology to Facebook's audience of nearly 1.6 billion people. This is a scale of audience we never imagined was possible."

MSQRD enables a user to overlay animated filters over his or her face using a smartphone's selfie camera.

The app also gives Facebook a powerful tool that could help it compete against Snapchat Lenses, which enables users to add real-time special effects and sounds to their selfies. 

Ultimately, the Masquerade Technologies acquisition could prove to be a profitable move for Facebook. 

MSQRD may help Facebook launch additional video features in the future, too. 

Many MSQRD users, meanwhile, simply want the face-swapping app to remain intact.