Bangalore: The social networking giant Facebook is in the process of negotiating with the Bangalore-based product start-up Little Eye Labs for an acquisition. As per the information from sources related to the matter, the deal will be officially announced in a couple of weeks time reports Business Standard.

The deal will be the first acquisition of an Indian product company by Facebook and also the first for software product think-tank Indian Software Products Industry Roundtable, which initiated the deal through its M&A Connect program, also responsible for helping Indian product companies find global buyers. However both the parties did spill more on this matter.

The Startup, Little Eye Labs founded in 2012 builds performance analysis and monitoring tools which assists in identifying and fixing performance problems for Android app developers. The company had received its initial round of funding of about $200,000, from a start-up incubator GSF Accelerator. Little Eye Labs is based in Bangalore and is headed by geeks including Giridhar Murthy,  Kumar Rangarajan, Satyam Kandula, and Lakshman Kakkirala who have ample years of experience with top IT vendors. Rangarajan is currently the CEO of Little Eye.

As far as iSpirit is concerned, the success of the deal will certainly be an upshot as they are trying real hard to project Indian startups on the global front.  "We are doing some match-making for Indian companies and we do actively showcase Indian companies to US buyers," iSpirt's Rao said. The company is negotiating on two-three similar deals at present.

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