Facebook Inc. acquires Little Eye Labs and focuses on the Indian market

Facebook Inc. acquired a technology in India, Bloomberg reported earlier. This is part of the companys strategy to make its presence among mobile-device users stronger and to consolidate its positions as the largest social-networking service.

Little Eye Labs, which is based in Bangalore, India announced on its website that it had been acquired by Facebook. The company is known for developing tools that Android application developers can use in order to analyze and enhance mobile apps efficiency. The India spokesman of Facebook – Carson Dalton – refused to make any comments on the terms of the deal, including on the financial terms, none of which were disclosed.

Little Eye Labs was founded by Kumar Rangarajan and got financing from angel investors GSF India and VenturEast Tenet Fund. Now the entire team of the company will be moved to the headquarters of Facebook situated in Menlo Park. The company officially announced: “The entire Little Eye Labs team will move to Facebooks headquarters in Menlo Park, California. From there, well be able to leverage Facebooks world-class infrastructure and help improve performance of their already awesome apps.”

Subby Subramanian, who is the engineer manager of Facebook in Bangalore, made an e-mail statement, saying: “At Facebook, we remain focused on producing useful and engaging mobile apps. The Little Eye Labs technology will help us to continue improving our Android codebase to make more efficient, higher-performing apps.”

Currently Facebook Inc. is on the second place after Google Inc. when it comes to online advertisements. The Chief Executive Officer of Facebook – Mark Zuckerberg is determined to invest a lot of efforts in helping the company generate bigger ad revenue. According to EMarketer Inc., which is researcher based in New York, ad spend of the companies based in the U.S. on mobile devices will be for 23% of digital-ad expense in 2013, which is 12% more than in 2012.

Urmil Shah – an analyst working for Kim Eng Securities Pvt in Mumbai, said: “If this company helps you analyze the mobile apps and usage patterns of users, it would enable doing data analytics. That is extremely important information for advertisers. That is ultimately where Facebook would make money.”

According to CNN Money, the current share price of Facebook Inc. is 0.54% up, and its one-year return rate is 6.55% up. The 38 analysts offering 12-month price forecasts for Facebook Inc. have a median target of 60.00, with a high estimate of 72.50 and a low estimate of 42.00. The median estimate represents a +3.04% increase from the last price of 58.23.