Facebook is continuing its acquisition spree. The Indian-based Little Eye Labs is the latest addition brought in to develop better mobile apps.
Facebook, the world's largest social networking giant, has bought an Indian tech startup Little Eye Labs with expertise in developing performance analysis and monitoring tools for Android mobile apps. The acquisition marks the social media giant's first in India. The news of acquisition was confirmed by the Bangalore-based tech startup, but it did not disclose the financial details. According to TechCrunch, a source revealed that the deal was finalized for a price less than $15 million.
The deal not only marks Facebook's first acquisition in India, but likely hints at the global leaders' interest in Indian startups.
"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 startup said in a statement on its official website.
The entire Little Eye Labs team will move to Facebook's headquarters in Menlo Park, California. The team's focus and skills will continue to improve Facebook's current mobile apps as well as develop tools to help build new apps.
Little Eye Labs was founded in August last year and comprises of a small team of seven developers. The company continues to offer its service for current Android users and will "receive further information on plans to offer a free version of Little Eye until June 30, 2014.″ New customers cannot sign up for the service anymore.
The acquisition follows Facebook's growing interest in the mobile sector as nearly 900 million users of its 1.19 billion user-base access the social network through mobiles.
"We're eager to be working alongside the incredible team at Facebook, and together, we'll continue on our mission of building awesome analysis tools to aide in the development of brilliant apps," Little Eye Labs team wrote.
