Facebook makes first acquisition

Social-networking website Facebook Inc. acquired Parakey Inc., a company run by Blake Ross and Joe Hewitt, founders of the Web browser Mozilla Firefox.

Parakey is the first acquisition for closely held Palo Alto-based Facebook. Financial terms weren't disclosed.

Ross and Hewitt are joining Facebook's development team to work on its website.

Parakey's software, which hasn't been released, will make it easier to transfer information between personal computers and the Web, according to a statement.