According to a report by the Business Standard, the deal is being facilitated by Indian Software Products Industry Roundtable (iSpirt). The Indian software product think-tank tries to help Indian companies find global buyers. As far as Little Eye Labs goes, the startup builds performance analysis and monitoring tools that identify and fix issues faced by Android app developers.
The company was founded by Bangalore-based programme analysis enthusiasts, Giridhar Murthy, a former Apple employee; Kumar Rangarajan who has worked with IBM and HP; Satyam Kandula, an IIT Kharagpur alumnus and Lakshman Kakkirala, also a former IBM and Yahoo! employee. CrunchBase shows Little Eye Labs currently has seven employees. The company had earlier received between $100,000 and $200,000 from GSF Accelerator, a start-up incubator.
The deal is being struck as part of the M&A connect programme by iSpirt. The firm had launched the programme’s hot-line for product companies to help them be acquired or raise funds. iSprit was kicked off in February this year after it broke out of Nasscom. The talks were reportedly conducted in Palo Alto, US, back in May. Besides Facebook, IBM, Cisco and VMware participated too.
If Facebook ends up purchasing Little Eye Labs, it will be a big push for not just iSpirt, but other startups in India, aiming to be noticed globally. Besides trying to get Facebook to see Little Eye Labs’ potential, iSpirt is reportedly working on match-making three more deals on similar lines currently.
Source: Tech 2