Google on the prowl for more firms to acquire

CEO Eric Schmidt confirms that it will buy smaller companies and enhance its own technology portfolio next year

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Google on the prowl for more firms to acquire CEO Schmidt says Google is keen to get its hands on small technology firms next year (Getty Images) (Getty Images)
By  Vineetha Menon Published  June 10, 2009

Google is scouting the market in its quest to acquire firms that will enhance its own technology portfolio, Google CEO Eric Schmidt said in an interview with the Fox Business network.

Schmidt revealed that Google is focusing on the cloud, mobile and open source distribution of software in the next year. In 2007, Google acquired the unified communications firm Grand Central Communications, using its technology for the Google Voice service it launched earlier this year.

"We have been (looking to acquire)," Schmidt said. "We have been wandering around looking at all of the different companies. With the big ones we haven't come across anything we've particularly liked. We are definitely talking to a number of smaller companies but we've done that routinely."

"We primarily look for technology. It's a typical build versus buy. How long does it take us to build it with our engineers, versus there are already engineers in this other company that have built this thing."

Google is already sitting pretty on the search charts, grabbing 64% of the market share in the United States followed by Yahoo at around 20%, a recent comScore report revealed.

The addition of other technology offerings is expected to boost Google’s earnings that have already risen to double digit percentages despite the economic crisis.

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