Google ended up passing on huge $5 billion acquisition of foreign company last year

Google ended up passing on huge $5 billion acquisition of foreign company last year
Google has disclosed that it passed on a $5 billion deal for an unknown foreign company last year, a deal that would have been one of its largest ever.

The deal, which is sure to bring speculation and guesses in the coming days, was revealed in a letter late last year to the U.S. Securities and Exchange Commission (SEC).



In the letter, the company also adds that it will need up to $30 billion in overseas profits to help fund the acquisitions and licensing it wants to make in 2014. The company spent $1.4 billion on smaller acquisitions last year, mainly robotics companies and the social mapping app Waze.

The SEC had been inquiring about the company's overseas cash, which now tops $35 billion compared to just $25 billion held in the U.S.

Google has already started their acquisitions in grand fashion this year, purchasing smart home thermostat maker Nest Labs for $3.2 billion.

Source:
WSJ Digits


Written by: Andre Yoskowitz @ 22 May 2014 19:21
Tags
Google Corporate Acquisition sec
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  • 2 comments
  • Tarsellis

    who wouldn't try to keep most of their cash outside of this country? Highest corporate tax rate, unstable currency, risk of seizure.

    23.5.2014 21:38 #1

  • Jemborg

    "... smart home thermostat maker... 3.2 billion??

    Wtf?

    Its a lot easier being righteous than right.


    24.5.2014 12:42 #2

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