Facebook Could Make Its First Desi Acquisition With Little Eye Labs
Facebook is apparently in talks to buy Bangalore-based product start-up Little Eye Labs. Though nothing has been officially disclosed yet, industry insiders are speculating the deal is in its final stages.
It is surprising that social media giant Facebook hasn’t made a single acquisition from the region that is one of its most promising markets. But it could soon change for the better with the startup. Not just for Facebook, but this will be a first for software product think-tank, Indian Software Products Industry Round–Table (iSpirt). This body has arranged for the deal to take place via its Merger and Acquisitions (M&A) Connect Program. This program has been specially created to help Indian software product companies tag global buyers and hence promoting software exports of India.
Founded merely last year, Little Eye Labs builds performance analysis and monitoring tools that identify and fix performance problems for Android app developers. With a reported team size of just 7 employees, the company though, has a leadership that has worked in some of the largest companies and studied at the most prestigious Indian institutes. Interestingly, Little Eye Labs is also familiar with VC Investments, having eceived seed–funding from early-stage start-up incubator GSF Accelerator.
More than Facebook, the acquisition of Little Eye Labs is a big breakthrough for iSpirt. Having separated from IT industry body NASSCOM, iSpirt has been quite busy arranging and executing meetings across tech industry bigwigs in the US.
The primary purpose of iSpirt seems to be boosting ‘Discovery’ of small Indian companies, commented Jay Pullur, who along with Sanat Rao, heads iSpirt’s M&A initiative,
“Discovery is a big issue. We were told they did not know India also had product companies. Also, some said Indian companies lacked maturity of dealing with M&A transactions and there was no ecosystem within the country to showcase product firms.”
The successful buy-out of Little Eye Labs could indeed prove the efficacy of the iSpirt platform and set a new precedence of small Indian tech companies being looked over and scrutinized by foreign giants and eventually being bought. What do you think?
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