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Wednesday, January 8, 2014

Facebook to purchase Android app monitoring tool maker, (NASDAQ: FB)

Facebook Inc is buying India-based Little Eye Labs, a startup that builds performance analysis and monitoring tools for mobile Android apps, to help boost its technology as it focuses on growing revenue from its mobile business.The terms of the deal were not disclosed, but media reports suggest the price was less than $15 million. A Facebook spokesman said the company would not comment on the terms of the deal."The Little Eye Labs technology will help us to continue improving our Android codebase to make more efficient, higher-performing apps," Subbu Subramanian, Facebook's engineering manager said.The deal, the social networking giant's first in India, could likely boost interest in the country's startups.

Facebook, Inc. (Facebook) is engaged in building products to create utility for users, developers, and advertisers. Shares of FB traded higher by 1.26% or $0.72/share to $57.92. In the past year, the shares have traded as low as $22.67 and as high as $58.58. On average, 75555400 shares of FB exchange hands on a given day and today's volume is recorded at 77329008.