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As rumors of a potential HubSpot deal with Google continue, the company’s stock price jumped by 8% in one day.
The spike came jumped by 8% on Tuesday (May 28) after CNBC’s David Faber reported that Alphabet is looking at an all-stock offer for the software company.
Faber said: “There have been many reports about HubSpot being in conversations with Google.
“My understanding is absolutely true, all-stock deal for Alphabet to acquire HubSpot.”
Alphabet is the parent company of Google and reports about a possible acquisition or deal of the marketing software enterprise HubSpot have been spoken about for some months now.
HubSpot is used mainly by small and medium businesses and is an AI-powered customer platform that aims to bring together different departments. This includes operations, content, service, sales, commerce, and marketing.
HubSpot and Google deal could be the biggest yet for Alphabet
While the software has always been popular, its latest shares rise with a market cap of around $33 billion would make it Alphabet’s largest deal so far. Google’s biggest acquisition was in 2011 when the purchase of Motorola Mobility went through for $12.5 billion.
Previously it was understood that an offer hadn’t yet been made but all of that could have changed in the last month.
Last month, a HubSpot spokesperson said: “As standard practice, HubSpot does not comment on rumors or speculation. We continue to focus on building a great business and serving our customers.”
If the deal does go ahead, this will help Google to narrow the gap with rivals Microsoft and Amazon in the battle in cloud computing.
Featured Image: Via LinkedIn Article
