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Alphabet No Longer Wants To Acquire HubSpot

Alphabet Exploring Options To Buy HubSpot

Alphabet, Google’s parent company, has walked away from potential plans to acquire online marketing software company HubSpot in a deal which would be worth tens of billions of dollars.

Shares of HubSpot fell as much as 19 per cent on Wednesday. It recovered slightly to end the day 12 per cent lower at A$729.33.

HubSpot has a market cap of around A$37.04 billion and an acquisition of it would have been Alphabet’s biggest ever deal. HubSpot’s shares had peaked in April at about A$1010.35.

Alphabet expressed its interest in a possible deal with HubSpot earlier this year, but both sides didn’t reach a point of detailed discussions around due diligence, reported Bloomberg citing people familiar with the matter.

Buying the Massachusetts-based HubSpot would have given Alphabet the ability to better compete with the likes of Microsoft, Oracle and Salesforce, given the inroads that HubSpot has made among small to medium sized enterprises.

Any deal between HubSpot and Google would though come under intense scrutiny by US antitrust regulators who are increasingly wary of big tech companies attempting to get even bigger through multi-billion dollar acquisitions.

Irrespective of the HubSpot deal, Alphabet’s shares have already rallied around 37 per cent this year alone.

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