Facebook grabs social network Branch

Facebook confirmed that it has grabbed a hold of Branch, a social network that focuses providing online forums for insightful conversations.

Terms of the deal were not released, but some reports estimated the price at USD 15 million.

"I am thrilled to announce that we will be continuing our mission at Facebook," Branch co-founder and chief executive Josh Miller wrote in a blog post that he said was fired off while vacationing at a mountain locale in Japan.

Miller wrote that the New York City-based startup's twin social networks, Branch and Potluck, will continue to operate independently but its nine-member team will form a Facebook Conversations group.

The group's goal will be to help Facebook users connect in meaningful exchanges based on interests, according to Miller.

The start-up launched about two years ago with backing from The Obvious Corp, a technology firm incubator formed by Twitter co-founders Biz Stone and Evan Williams.