The deal size has not been disclosed, however according to some reports it is pretended to be at the range of between USD 10-15 million.
The firm stated on its website that, "Today, we are very excited to announce that Facebook is acquiring our company. With this acquisition, Little Eye Labs will join forces with Facebook to take its mobile development to the next level. And this is Facebook's first acquisition of an Indian company and Little Eye is happy to become part of such an incredible team."
On the other hand, Facebook Engineering Manager Subbu Subramanian commented on this by saying, "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."
He also added that, "At Facebook, the focus continues to be on producing useful and engaging mobile apps, he added." Little Eye Labs technology will help us continue to improve Facebook's Android codebase to make more efficient, higher-performing apps."
Little Eye Labs was found about a year ago by four Bangalore-based technology professionals - Satyam Kandula, Kumar Rangarajan, Giridhar Murthy and Lakshman Kakkirala. The company is backed by GSF and VenturEast Tenet Fund.
According to the sources, the entire Little Eye Labs team shall be moving to Facebook's headquarters in Menlo Park, California, so as to grip Facebook's infrastructure and help improve performance of their apps.
Recently, Facebook attempted to buy instant messaging firm Snapchat, which reportedly turned down its USD 3 billion offer.
Source: DeccanChronicle
Author is a scholar, pursuing bachelors (Computer Science), possessing rich interest in Information Technology, loves to blog about technology concepts and advancements.
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