Facebook about to close its first acquisition of an Indian company: Report

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Facebook about to close its first acquisition of an Indian company: Report
Facebook might soon be making its first acquisition in India, if a new report is to be believed.

The popular social network is reportedly in talks to buy a Bangalore-based startup, Little Eye Labs, according to Business Standard.

The publication cites sources to close to the development to report that the Facebook acquisition of Little Eye Labs could be announced in the next few weeks.

As it notes, the deal would be the first one for software product think-tank Indian Software Products Industry Roundtable (iSpirt), which as per the publication is responsible for facilitating the deal as part of its M&A Connect programme.

Both Facebook and Little Eye Labs reportedly refused to comment when the publication requested for a response. Sanat Rao and Jay Pullur, who head Spirt's M&A initiative, also declined to comment on the deal, according to the report.

According to the company's website, Little Eye Labs builds mobile app analysis tools for app developers and testers. "The tools offer detailed insights about the behaviour of the app, enabling easy benchmarking and optimisation of resources."

The company was founded in May 2012 by Giridhar Murthy, Kumar Rangarajan (also the CEO of the company), Satyam Kandula, and Lakshman Kakkirala.

Little Eye Labs was part of GSF Accelerator's first batch. GSF  is a startup accelerator which was launched by former Reliance Entertainment President Rajesh Sawhney.

According to the report, the company had received an investment between $100,000 and $200,000 from GSF Accelerator. 

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