Facebook agrees to take over Parse

US tech giant Facebook Inc (NASDAQ:FB) has agreed to acquire domestic mobile start-up Parse Inc, the companies said in separate blog posts.

The deal, whose terms were not provided, is seen to complete soon, co-founder Ilya Sukhar said in the Parse blog post.

The acquisition follows collaboration between the companies. Facebook will continue offering the solutions of Parse, a cloud-based platform that provides scalable cross-platform services and tools for developers, the pair said.

The Wall Street Journal reported, quoting unnamed insiders, that Facebook was acquiring Parse in a cash-and-stock deal worth some $85m (€65.2m). According to the report, Parse had been raising a funding round which would have given it value of over $50m but Facebook put in an acquisition offer, trumping a lower one, by Dropbox Inc. The start-up was also said to have garnered attention from Google Inc (NASDAQ:GOOG) and Yahoo Inc (NASDAQ:YHOO).