Andre Yoskowitz
22 May 2014 19:21
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