Facebook purchases its first Indian company
Multiple news outlets are reporting that Facebook recently purchased its first Indian company, Little Eye Labs. Although the exact cost of the acquisition hasn't yet been disclosed, a direct source told TechCrunch that it was in the $10 to $15 million range.
According to the news outlet, Little Eye Labs is "an Indian startup that makes a software tool for analyzing the performance of Android apps." This agreement is reportedly part of Facebook's ongoing goal of strengthening its mobile competencies, as evidenced by other recent acquisitions in the mobile space. TechCrunch notes that the social networking giant's mobile strategy has "lagged behind rivals like Twitter" in spite of its large number of mobile users.
"This has been a fun and exciting journey," said Little Eye Labs in an official announcement. "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."
As part of the deal, the team at Little Eye Labs will move to Facebook's headquarters, located in Menlo Park, California.
"From there, we'll be able to leverage Facebook's world-class infrastructure and help improve performance of their already awesome apps," said Little Eye Labs, adding that this is an opportunity to impact "the more than 1 billion people who use Facebook."
Business acquisitions are popular in the technology industry, as they enable companies to seamlessly evolve and increase their revenue by working with fully developed teams that specialize in certain areas of expertise. In most cases, these kinds of transitions end up benefiting everyone involved.