REUTERS - Facebook Inc is buying India-based Little Eye Labs, a startup that builds performance analysis and monitoring tools for mobile Android apps, in a move that marks the social networking giant's first deal in the country.
Facebook has been working to boost its mobile technology as it focuses on growing revenue from its mobile advertising business.
The terms of the deal were not disclosed, but media reports suggest the price was less than $15 million. The deal could likely boost interest in India's startups.
Facebook was not immediately available for comment outside regular U.S. business hours.
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. (https://bsmedia.business-standard.comlink.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.
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The one-year old company is backed by GSF and VenturEast Tenet Fund.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Supriya Kurane)