Facebook announced that they have agreed to acquire FriendFeed, but the terms of the agreement were not released.  It appears the twelve member FriendFeed team will join Facebook, but Facebook’s press release indicates that their long term plan for FriendFeed product has not yet been made.

FriendFeed is based in Mountain View, Calif. and has 12 employees. FriendFeed.com will continue to operate normally for the time being as the teams determine the longer term plans for the product.

FriendFeed was founded by four ex-Google employees that played key roles in the development of Google’s Maps and Gmail products.