Latest reports from Israel is that- Facebook is planning yet another acquisition, that of Tel Aviv-based based Face.com.

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Going by the latest buzz, Face.com is the world’s largest and most accurate face recognition platform. It offers apps that scan photographs on Facebook, Twitter, and many other popular sites, and tag them with detected faces. Face.com also offers a developers API that can be used in other applications.

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Facebook also has had auto-tagging of its own for sometime now, and Face.com can take the same to the next level. Israel-based blog Newsgeek reports Facebook is willing to shell out between US $80 million and $100 million for Face.com

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Face.com’s technology is highly regarded by the developers all across the world. Its API is used in a wide-variety of third-party mobile apps, and had been used to discover over 18 billion faces as of February 2011. Earlier this month, Face.com launched a mobile app of its own called KLIK, which uses face recognition technology to help people tag photos in real-time. The app is highly rated, with an average of 4.5 stars, indicating high customer satisfaction.