It was reported earlier this month that Facebook was set to make its first acquisition in India, Bangalore-based startup Little Eye Labs, which creates performance-analysis tools for Android developers. More details on the planned transaction have emerged, as reported by TechCrunch.
“Multiple sources” told TechCrunch that Facebook and Little Eye Labs have exchanged term sheets, and that the two companies are eyeing a final announcement by mid-January of a deal valued at between $10 million and $15 million.
And TechCrunch reported that one of the sources said that if and when the transaction is finalized, most of the Indian company’s founding team will join the social network’s mobile engineering team in Menlo Park, Calif.
Little Eye Labs was founded in May 2012 by four Bangalore-based programming analysts, and software product think-tank Indian Software Products Industry Round Table (iSPIRT) helped facilitate the talks between the startup and the social network.
Readers: Does this potential acquisition make sense for Facebook?