The service provides businesses with a system to reward customers for their patronage. TagTile made a statement on its website announcing the acquisition, saying:
Today, we are happy to announce that we are joining Facebook, and that they are acquiring substantially all of our assets. 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.
It also says that it won't be taking on any new customers which leads us to believe Facebook will fold the team into its own and have it focus on a Facebook property, like Facebook Offers, which Facebook is rumored to be working on expanding.
[via Slash Gear]