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US: Google triples M&A spending in one year

By  |  July 28, 2014

Google has reportedly more than tripled its spending on mergers and acquisitions over the course of a year as part of efforts to diversify the company’s service offerings.

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    Reports say Google has spend $4.2 billion in the first half of the year – $3.2 billion of which was spent on acquiring Nest Labs last February. That figure compares to $1.3 billion during the same time period a year prior, according to regulatory filings.

    That figure, reports say, also does not include plans announced by Google to acquire Skybox Imaging and DropCam, deals that are expected to reach a value of more than $1 billion.

    Experts say Google is ramping up its spending as it looks to diversify its operations out from its core online search business. The company is reaching out into mobile, home technology and telecommunications markets.

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