Does pretty much look like that - and you would not exactly buy the runner-up of the 4square / Gowalla competition at a premium - so might have also been a deal at quite favorable conditions for f-book.

Given the understanding here that Gowalla will bring great engineers and with them a whole bunch of other innovative people to f-book in a time where such teams are one of the sparsest "resources" (anyone remember the story published recently that GOOG is paying their engineers 250k p.a.) it might help to cure some of Zuckerberg's "greatest fears" as voiced by their COO last week in NY at the BI Ignition conference (lack of innovation, lack of people aka "...Google has two times as many job openings as we have employees...")

Being able to acquire whole teams of innovative people is certainly their best chance to catch-up.