On Monday, Facebook agreed to purchase Mobile Technologies, a company focused in developing voice translation software. However, the financial details of the transaction were not provided by the two corporations.

"I'm excited to announce that we've agreed to acquire Mobile Technologies, a company with an amazing team that's behind some of the world's leading speech recognition and machine translation technology," Tom Stocky, Facebook's Product Management Director, wrote in a post online. "Voice technology has become an increasingly important way for people to navigate mobile devices and the web, and this technology will help us evolve our products to match that evolution."

Mobile Technologies was founded in 2001 and became popular for making Jibbigo, a mobile app for speech-to-speech translation of languages. On the other hand, Facebook has more than 1 billion users each month but the social network's struggle to climb out of its stock market debut last year, continues. However, Facebook appeared to be growing after its earnings report last month. The social networking site's mobile advertising revenue increased and its shares climbed by more than 40%. The acquisition was expected to aid the company in its attempt to attract more users.