NEW DELHI — Internet giants Facebook and Google have recently acquired two India-based technology start-up companies. This is expected to give a boost to entrepreneurship in India, home to tens of thousands of software engineers and a thriving information technology industry.
Facebook clinched the deal to acquire Little Eye Labs, a company founded about a year and a half ago by four engineers in Bangalore, in early January. The company builds mobile app analysis tools and is believed to have been bought for $10-15 million. It is the first acquisition by the social media giant of an Indian start-up.
Google has acquired the cyber security firm, Imperium, which has offices in both Bangalore and California. It was founded three years ago to tackle spam, fraud and abuse on the Internet. Media reports put the deal’s value at about $9 million.
Although the two deals are fairly small, they are significant because they have put Indian start-ups on the radar of the global technology companies, which make regular acquisitions of small companies either for the technology they develop or the talent of their founders.
Rutvik Doshi, with venture firm, Inventus Capital Partners in Bangalore, India’s technology hub, thinks the acquisitions are symbolically important. Read more about it at VOA News.