Alphabet, the parent company of Google, is reportedly considering making an offer to acquire HubSpot, a marketing software company, leading to a 7% surge in HubSpot’s shares on Thursday afternoon. According to Reuters, Alphabet has been in discussions to determine the potential offer amount and assess the likelihood of approval from antitrust officials.
The news of Alphabet’s interest in HubSpot comes at a time when major tech companies are facing increased antitrust scrutiny. Earlier this year, the Department of Justice filed an antitrust suit against Google, targeting its ad business and seeking to dismantle its monopoly in search.
If the potential acquisition of HubSpot by Alphabet materializes, it could mark a significant move for the tech giant. HubSpot, headquartered in Cambridge, Massachusetts, had a market capitalization of approximately $32 billion before the news of Alphabet’s interest emerged. The company specializes in providing marketing, sales, and customer service software to businesses.
However, it is important to note that Alphabet has not yet made a formal offer for HubSpot, and the outcome of the discussions remains uncertain, as per the report. Both Alphabet and HubSpot have refrained from providing immediate comments on the matter.
For more details, refer to the original article by Reuters.
