Google (GOOG) May Tap Private Equity as More M&A Deals Appear
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Google (Nasdaq: GOOG) may be looking to private equity firms for advice or financing partnerships as it looks to acquire more companies.
Bloomberg noted Wednesday that the move comes as Google is closing about one deal every other week, though the majority wouldn't be considered material to the search giant's operations.
Google mergers and acquisitions chief Don Harrison, speaking at Bloomberg's Next Big Thing Summit in California, noted that Google applies the "toothbrush test" to potential acquisitions, which evaluates whether a person uses the device or service once or twice a day and does it solve a problem.
Bloomberg-compiled data shows that 11,000 M&A deals have been announced in 2013, with the average transaction size at $168 million. The average technology deal was said to be about $93.4 million.
While Harrison didn't mention any specific deals Google was working on, he commented, "there are opportunities." Last week, it was announced that Google acquired social navigation and mapping firm Waze. Purchase price wasn't disclosed, but speculated to be about $1.1 billion.
Shares of Google are lower in early trading.
Bloomberg noted Wednesday that the move comes as Google is closing about one deal every other week, though the majority wouldn't be considered material to the search giant's operations.
Google mergers and acquisitions chief Don Harrison, speaking at Bloomberg's Next Big Thing Summit in California, noted that Google applies the "toothbrush test" to potential acquisitions, which evaluates whether a person uses the device or service once or twice a day and does it solve a problem.
Bloomberg-compiled data shows that 11,000 M&A deals have been announced in 2013, with the average transaction size at $168 million. The average technology deal was said to be about $93.4 million.
While Harrison didn't mention any specific deals Google was working on, he commented, "there are opportunities." Last week, it was announced that Google acquired social navigation and mapping firm Waze. Purchase price wasn't disclosed, but speculated to be about $1.1 billion.
Shares of Google are lower in early trading.
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