Facebook acquires Bangalore-based Little Eye Labs

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Facebook acquires Bangalore-based Little Eye Labs
Facebook, Inc. acquired a Bangalore-based company Little Eye Labs making it the company's first acquisition in India. Little Eye Labs, a product start up company founded in May 2012, develops performance analysis as well as monitoring tools for developers of mobile app. The financial consideration of the deal is not disclosed. However, as per industry sources the acquisition is valued between $10 million - $15 million.

Commenting on the deal, Kumar Rangarajan, Co-founder of Little Eye Labs, in a blog on the company's site said "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!".

The acquisition is in line with Facebook's efforts to strengthen its mobile product segment. Earlier in April 2013, the company acquired Parse, a start up company. The company also made an unsuccessful attempt to acquire instant messaging service Snapchat only recently.

Pursuant to the acquisition, the team of Little Eye Labs would move to the headquarters of Facebook in Menlo Park, California and would engage in building analysis tools for assisting in the development of apps.

Further on the development Rangarajan said "From there (FB headquarters), we'll be able to leverage Facebook's world-class infrastructure and help improve performance of their already awesome apps. For us, this is an opportunity to make an impact on the more than 1 billion people who use Facebook".


Story first published: Wednesday, January 8, 2014, 15:57 [IST]
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