Google Spends Over $500M in Third-Quarter Acquisitions

By

Google’s acquisition tally emerged in a quarterly report this week, revealing the Internet giant spent more than $500 million to acquire another 27 companies during the third quarter of 2011, according to media reports.

The Mountain View, Calif.-based company’s latest deals bring its acquisition count to 57 companies through the first nine months of 2011, according to The Associated Press. The world’s largest Internet-search provider is using acquisitions to expand its services and add new sources of advertising revenue.

The quarterly report also showed that Google Inc. paid $151 million in cash for Zagat Survey, the well-known restaurant review publisher that “Google bought to counter the popularity of Yelp’s business rating service,” the AP said.

Analysts said the price is higher than estimated in previously published reports, “which pegged the deal’s value between $65 million and $125 million,” the AP reported.

Google’s current count of 57 acquisitions – totaling $1.44 billion – reportedly already exceeds Google’s previous yearly record of 48 acquisitions, which was attained last year.

Government agencies continue to scrutinize Google. Google’s Transparency Report shows that the government continues to increase its demands for data about users of online services, TechZone360 reported.

Between January and June 2011, U.S. law enforcement agents made 5,950 requests for data about Google users. That was not only by far the highest reported total; India was second with 1,739. The U.S. government has continued to ramp up these demands.

U.S. authorities made 113 requests for video content to be removed, with one request under the note of “showing government criticism.”

For the third quarter, Google revealed an increase in year-over-year revenue of 33 percent with a total of $9.72 billion for the quarter ending Sept. 30, TechZone360 reported. Industry observers had anticipated a report of $7.21 billion. Network revenue is up 18 percent, 55 percent of the company’s revenue comes from outside the U.S., and still, CEO Larry Page said, “we are still at the very early stages of what technology can deliver,” on the earnings call earlier this month.


Erin Harrison is Executive Editor, Strategic Initiatives, for TMC, where she oversees the company's strategic editorial initiatives, including the launch of several new print and online initiatives. She plays an active role in the print publications and TechZone360, covering IP communications, information technology and other related topics. To read more of Erin's articles, please visit her columnist page.

Edited by Rich Steeves
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

Executive Editor, Strategic Initiatives

SHARE THIS ARTICLE
Related Articles

Why Block Websites? Understanding the Reasons

By: Contributing Writer    5/6/2024

The internet is such an expansive network where every click can lead to information, entertainment, or opportunities for productivity. However, this a…

Read More

ChatGPT Isn't Really AI: Here's Why

By: Contributing Writer    4/17/2024

ChatGPT is the biggest talking point in the world of AI, but is it actually artificial intelligence? Click here to find out the truth behind ChatGPT.

Read More

Revolutionizing Home Energy Management: The Partnership of Hub Controls and Four Square/TRE

By: Reece Loftus    4/16/2024

Through a recently announced partnership with manufacturer Four Square/TRE, Hub Controls is set to redefine the landscape of home energy management in…

Read More

4 Benefits of Time Tracking Software for Small Businesses

By: Contributing Writer    4/16/2024

Time tracking is invaluable for every business's success. It ensures teams and time are well managed. While you can do manual time tracking, it's time…

Read More

How the Terraform Registry Helps DevOps Teams Increase Efficiency

By: Contributing Writer    4/16/2024

A key component to HashiCorp's Terraform infrastructure-as-code (IaC) ecosystem, the Terraform Registry made it to the news in late 2023 when changes …

Read More