Before Christmas last year it was more or less confirmed that Facebook was eying to acquire the Bangalore based year and half old startup Little Eye Labs for a deal size expected to be in the range of $10-15 million. Sources then had said that companies had exchanged the term sheets, and that a final announcement could be made by mid-January 2014. The official confirmation has already come in the first week of 2014 from both Facebook and Little Eye Labs.
Little Eye Labs founded in May 2012, known to build performance analysis and monitoring tools that identify and fix performance problems for Android app developers has shared the development in its latest blog post. Further to this, it has also revealed the development while stating that the entire team will move to Facebook’s headquarters in Menlo Park, California. Meanwhile current customers of Little Eye will receive further information on plans to offer a free version of Little Eye until June 30, 2014. More information has been provided on the Downloads page.
Confirming the acquisition Subbu Subramanian, Facebook Engineering Manager shared with YS – “I’m excited to announce that we’re acquiring Little Eye Labs, a company that produces world-class technology to help developers build more efficient products with Android. This is an opportunity to welcome some of the industry’s most talented engineers to our team in Menlo Park, California. At Facebook, we remain focused on producing useful and engaging mobile apps. The Little Eye Labs technology will help us to continue improving our Android codebase to make more efficient, higher-performing apps.”
The acquisition rumors were ripe from early December 2013 that Facebook is all set to make its first acquisition of a product firm in India. Facebook earlier had ignored to comment on the development but Kumar Rangarajan, co-founder of Little Eye labs did acknowledge that the company was in discussions with Facebook.
This is a big booster for the Indian startup ecosystem at the start of 2014. Congrats Little Eye Labs for becoming the first Indian company to be acquired by Facebook and good luck for the second phase.