Bangalore-based Little Eye Labs has confirmed its acquisition by Facebook, in a deal reportedly valued between $10 million and $15 million.
The tech startup builds software tools to analyze the performance and enhance the efficiency of Android apps, and can help Facebook generate more revenue from mobile apps.
This is an essential market for Facebook as 874 million of its 1.19 billion users, as of September 2013, accessed the social network on mobile devices. Facebook, unlike many other social networks, successfully generate ads revenue online, second only to Google.
The entire Little Eye Lab team is expected to move to Facebook's Menlo Park headquarters.
“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,” the company said in a statement on its site.
The company was founded a little over a year ago and marks a significant step toward the acquisition of Indian companies. Little Eye was apparently in talks with Twitter as well, but chose the Facebook deal.
During this transition phase Little Eye is planning to provide current customers a free version of their service until June 30, 2014.
[TechCrunch] [Little Eye Labs]
