(Image source from: Facebook acquires Bangalore based Little Eye Labs)

Facebook has made its first Indian acquisition - the 18 months old Bangalore-based Little Eye Labs.

Talking about the Little Eye, its co-founder Kumar Rangarajan said that it is "like a microscope for mobile app developers."

Facebook has acquired Little Eye for around Rs 90 crore, becoming the third Asian company (the two others are Malaysian) to join the fold of the world's largest social networking site.

How much better can it get?" remarked Rangarjan, 38, who is the 'chief ion' of the company, which he says is run by "positively charged particles".

For Facebook, the deal is another major leap in the app and mobile environment, and at a really cheap price. An investor in Little Eye said the American company got a really good bargain. A package like such would have drilled a hole in their pocket anywhere else in the world.

Little Eye is majority-owned by its team of eight, including the five founders.

Image Source: Economic Times

AW: Suchorita Dutta Choudhury