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Wednesday, January 8, 2014

Facebook to purchase India-based 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, in a move that marks the social networking giant's first deal in the country. Facebook has been working to boost its mobile technology as it focuses on growing revenue from its mobile advertising business.The terms of the deal were not disclosed, but media reports suggest the price was less than $15 million. The deal could likely boost interest in India's startups.Facebook was not immediately reachable for comment outside regular U.S. business hours.Bangalore-based Little Eye Labs' team will move to Facebook's headquarters in Menlo Park, California, the company said in a statement on its website. ()

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.