Daily Research News Online

The global MR industry's daily paper since 2000

Google Parent 'Drops Out' of HubSpot Acquisition Talks

July 16 2024

Google parent Alphabet has shelved plans to buy CRM company HubSpot, according to Bloomberg and other sources. The buy would have been one of the biggest of recent times, with a possible value of around $24bn, but would have faced regulatory scrutiny.

HubSpot logoHubSpot combines first party customer data with native marketing, sales and service engagement tools. The company has added a number of measurement and tracking tools to its service, sometimes by acquisitions such as that of B2B data provider Clearbit last autumn.

HubSpot's share price has fallen sharply in the few days since reports that the deal was off, although the company has been growing fast - 2023 revenue was up 25%, while in Q1 20204 revenue grew 23% to $617m and earnings rose 33% - and it should have no trouble continuing as an independent. HubSpot's share price is up more than 1,400% since its IPO in 2015, and more recently shares have continued to outperform the S&P 500.

Alphabet's interest may have centred around the AI features which help HubSpot's users to accomplish tasks like writing emails, building customer lists and writing reports. Unnamed insiders quoted by Bloomberg said the two sides never reached the stage of detailed due diligence, and representatives for Alphabet and HubSpot have thus far declined to comment.

Web site: www.hubspot.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

Select a region below...
View all recent news
for UK
UK
USA
View all recent news
for USA
View all recent news
for Asia
Asia
Australia
View all recent news
for Australia

REGISTER FOR NEWS EMAILS

To receive (free) news headlines by email, please register online