According to CNN money, which cites "a source close to Gowalla," social network giant Facebook has acquired the location-services startup.
The report suggests that Gowalla's team will move to Facebook's headquarters in Palo Alto as Mark Zuckerberg looks to boost his company's currently small presence in the location-services space. Instead of reviving Facebook Places, the social network aims to integrate Gowalla's technology with its new Timeline feature. It is unclear whether Gowalla in its current state will continue to exist or recieve future updates.
Gowalla was founded in 2009 by Josh Williams.