Facebook has acquired a London-based artificial intelligence company which could help it fight the rise of fake news.
TechCrunch reports that the social media giant will pay between $23 million and $30m for Bloomsbury AI.
Facebook said that the firm鈥檚 expertise 鈥渨ill strengthen Facebook鈥檚 efforts in natural language processing research, and help us further understand natural language and its applications鈥�.
Bloomsbury AI鈥檚 mission statement is to help people gain 鈥渄irect access to the knowledge they need鈥�.
The firm鈥檚 co-founder and head of research Sebastian Riedel also co-founded Factmata, which claims to have developed tools to help brands combat fake news.
Investors in Bloomsbury AI, which came through the Entrepreneur First programme, include Fly.VC, Seedcamp, IQ Capital, UCL Technology Fund and the London Co-investment Fund.