Facebook has acquired an India-based startup, Little Eye Labs, to drive its mobile developments.
In April 2013, the Bangalore-based company officially released its software tool, Little Eye for Android, which offers performance analysis and monitoring tools for mobile app developers. Little Eye Labs is just over a year old and it has already caught the attention of a top Silicon Valley company.
Mobile device usage is increasing at a rapid pace and to keep pace with market demands, many companies are now offering apps for smartphones and tablets. The easy availability of Internet on smartphones and tablets is also a major factor for the increased demand in mobile devices as well as apps. The Facebook mobile app is one of the most commonly used app in the social networking space and the company is trying its best to provide enhanced customer experience to its users.
Facebook's acquisition of Little Eye Labs may help the social networking website in providing performance analysis of its apps and enable the company to develop improved apps in the near term.
"Today, we're very excited to announce that Facebook is acquiring our company. With this acquisition, Little Eye Labs will join forces with Facebook to take its mobile development to the next level! This is Facebook's first acquisition of an Indian company, and we are happy to become part of such an incredible team," per a statement released by Little Eye Labs.
Little Eye Labs is the first Indian company to be acquired by Facebook. Little Eye Labs was founded just over a year ago by four Bangalore-based technology professionals: Giridhar Murthy, Kumar Rangarajan, Satyam Kandula and Lakshman Kakkirala. The Indian company's investors include VenturEast and GSF.
Neither Facebook nor Little Eye Labs gave details of the acquisition but the deal is expected to be in the range of $10 million to $15 million.
Little Eye Labs has confirmed that its team will move to Facebook's headquarters in Menlo Park, California, and will help improve performance of Facebook's already existing apps.
