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

Written by Andre Yoskowitz (Google+) @ 22 May 2014 19:21 User comments (2)

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

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2 user comments

123.5.2014 21:38

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

224.5.2014 12:42

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

Wtf?


Its a lot easier being righteous than right.


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