Google flashes its cash: 2011 to be the busiest year yet
Over $500 million has been spent on acquisitions so far at Google HQ, and the year isn’t even over. 57 companies have been brought onboard already in 2011, beating its former record of 48 deals in a year, reached last year.
This year’s shopping spree includes restaurant review publisher Zagat, which at $151 million cost far more than the previous estimate of $65-125 million. The real figure was revealed when the Mountain View company submitted a regulatory filing. At $114 million, online discount service Daily Deals was the second-largest acquisition.
Still, Google has spent “just” $1.8 billion in total this year, meaning it may not beat 2008’s $3.2 billion.
Motorola Mobility, bought for $12.5 billion in August, is an exception to this, but the deal may not go through this year as it’s still being cleared by competition authorities. But Google has mostly been buying small start-ups, looking to get its hand on interesting technologies or talented engineers.[via HuffPost]
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Google has the purchasing power now because of Android OS.