According to sources, facebook had also tried to acquire twitter in 2008 at a price of $500 million, but failed.

In the official blog post, friendfeed said:

The FriendFeed team is extremely excited to become a part of the talented Facebook team. We’ve always been great admirers of Facebook, and our companies share a common vision. Now we have the opportunity to bring many of the innovations we’ve developed at FriendFeed to Facebook’s 250 million users around the world and to work alongside Facebook’s passionate engineers to create even more ways for you to easily share with your friends online.

The terms of the deal are still not disclosed, but Facebook said FriendFeed would operate as it has for the time being as the teams determine long-term plans.

You can check out the official press release for more information.