Google Went on a $500 Million Shopping Spree in Q3
Google Went on a $500 Million Shopping Spree in Q3
Posted 10/27/2011 at 7:04am
| by Paul Lilly
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Google is a little more than half a billion dollars lighter in the wallet after acquiring 27 companies in the third quarter, including a $151 million cash acquisition of Zagat, a popular restaurant review guide, the sultan of search revealed in a regulatory filing this week. For the fiscal year to date, Google has spent a total of $1.4 billion acquiring 57 companies, with three months left to go.
According to the Washington Post, Google's buying spree is already at a record high for the company, surpassing the company's previous annual record of 48 acquisitions, set in 2010. However, Google's spending isn't the highest it's ever been. The sultan of search spent $1.8 billion acquiring companies last year, and a whopping $3.2 billion acquiring DoubleClick in 2008, Google's sole acquisition that year.
There's a bit of an asterisk to all this. Google announced in August it intends to purchase Motorola Mobility for $12.5 billion, but that deal might not be finalized before the end of the year.
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November 14, 2011 at 3:02am
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November 14, 2011 at 12:52am
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Trooper_One
October 27, 2011 at 1:27pm
... where do they get their money!?!?
Aren't they worried about running out with these frievilous spending?!?
streetking
October 27, 2011 at 1:41pm
have you not been paying attention? google is rolling in it
on a side note, mototora should probably be motorola
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