Reports of an acquisition first surfaced on CNN Money late last week, and now Gowalla has confirmed that it has indeed been acquired by Facebook. According to the company, the Gowalla service itself will be winding down at the end of January, and the team will instead focus all of their attention on developing Facebook features (namely, Timeline). Gowalla's Josh Williams also assures users that their personal information isn't a part of the acquisition, although the company will be providing users with a way to export their Passport data and other information. You can find his full post announcing the deal at the source link below.

[Thanks, Bram]