Shares of HubSpot — a marketing and customer service software company — jumped 5% after reports that it could be acquired by Google $GOOGL parent Alphabet.
Google parent Alphabet might make an offer even though Google's under fire from antitrust regulators
Shares of HubSpot — a marketing and customer service software company — jumped 5% after reports that it could be acquired by Google $GOOGL parent Alphabet.
Alphabet is reportedly weighing making a bid for HubSpot, Reuters reported Thursday. Alphabet did not immediately respond to Quartz’s request for comment. A HubSpot spokesperson told Quartz it “does not comment on rumors or speculation.” HubSpot’s stock rose as much as 11% to $693 following the news before dipping back down to $660 toward the end of the trading day.
The company valued at $35 billion would be Alphabet’s largest acquisition to date, but there is no certainty that Alphabet will make the offer, according to Reuters. Reports of Alphabet’s potential bid for HubSpot come just as the company and its Big Tech peers are under fire from antitrust regulators. Google is facing two lawsuits from the Department of Justice for allegedly creating monopolies in the digital advertising and search engine markets.
2: Number of major antitrust lawsuits from the DOJ that Alphabet’s company Google is facing
$35 billion: Hubspot market value, according to Reuters
11%: How much Hubspot shares jumped after reports that Alphabet may offer to buy it
$73.8 billion: Alphabet’s profits for the year ended Dec. 31, 2023
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