Facebook Inc(FB.O) is buying India-based Little Eye Labs, a startup that builds performance analysis and monitoring tools for mobile Android apps, to help boost its technology as it focuses on growing revenue from its mobile business.
The terms of the deal were not disclosed, but media reports suggest the price was less than $15 million. A Facebook spokesman said the company would not comment on the terms of the deal.
"The Little Eye Labs technology will help us to continue improving our Android codebase to make more efficient, higher-performing apps," Subbu Subramanian, Facebook's engineering manager said.
The deal, the social networking giant's first in India, could likely boost interest in the country's startups.
Bangalore-based Little Eye Labs' team will move to Facebook's headquarters in Menlo Park, California, the company said in a statement on its website. (link.reuters.com/qud85v)
"We released our official version of Little Eye for Android in early April of this year, and since then we have had many Android developers and testers using Little Eye Labs to measure, analyze, and optimize their app's performance," the company said.
The one-year old company is backed by GSF and VenturEast Tenet Fund.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Supriya Kurane)
Samsung, Tencent surge in race to become Asia's most valuable firm
SINGAPORE Tencent Holdings Ltd and Samsung Electronics Co Ltd are racing to be crowned Asia's most valuable company as expectations for robust earnings growth push their share prices to record highs.
World stocks ease, dollar holds ground as U.S. rate bets abound
LONDON Stocks slipped on Wednesday while the dollar continued to claw back last week's losses as investors grappled with the prospect of a U.S. interest rate increase in the months ahead coming amid continued uncertainty about the strength of the global economy.
Strong demand for Samsung's Galaxy Note 7 tests supply chain
SEOUL Better-than-expected demand for Samsung Electronics Co Ltd's new Galaxy Note 7 is causing supply constraints globally, the South Korean tech giant said on Wednesday, suggesting strong initial sales for the new premium smartphone.