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)
Trending On Reuters
With the crucial GDP data scheduled to be announced along with key corporate results, volatility is expected to prevail in the upcoming week. Disappointment on these fronts may push the Nifty down to the 7,200-7,500 range. Once we witness stability and consolidation, investors should increase their exposure, says Ambareesh Baliga. Full article