Facebook, the social media site is eyeing to acquire a Bangalore based start-up Little Eye Labs, reported Business Standard. The announcement about the deal is expected to be made in the coming few weeks.

Little Eye Labs builds performance analysis and monitoring tools for Mobile App developers. These tools provide detailed insights about the behavior of the app, enabling easy benchmarking and optimization of resources.

The deal has been facilitated by software think-tank Indian Software Products Industry Roundtable (iSpirt), through its M&A Connect programme, which aids Indian companies find global buyers. Not only is this a first for iSpirt but it will also be Facebook’s first Indian acquisition.

Kumar Rangarajan is currently the CEO of Little Eye. Little Eye Labs was founded in May 2012 by four Bangalore-based programme analysts including Giridhar Murthy, Kumar Rangarajan, Satyam Kandula and Lakshman Kakkirala.

This start-up received an investment between $100,000 and $200,000 from early-stage start-up incubator GSF Accelerator. GSF's Brij Bhasin is an advisor to Little Eye Labs.

Back in May this year, iSpirt has held a closed-doors meeting with some tech giants like Facebook, IBM, Cisco and VMware, among others.

Explaining the idea iSpirt approaching large US firms to consider buying Indian software firms Sanat Rao, heading iSpirt’s M&A initiative said, “Over the past few years, Indian product companies have been developing products to cater to the global market. Also, in the US, there is a rising trend of 'acqui-hires', under which big companies hire smaller players (which could be an Indian product company) and use their manpower resources to work on other products as well.”

Jay Pullur, also heading iSpirt’s M&A initiative said, "Discovery is a big issue. We were told they did not know India also had product companies. Also, some said Indian companies lacked maturity of dealing with M&A transactions and there was no ecosystem within the country to showcase product firms."