In June, Google announced its decision to acquire
data-analytics firm Looker for $2.6 billion. After the close of the deal,
Looker will join Google Cloud. The transaction is expected to help expand
Google’s cloud capabilities. Regulators in the UK are said to be reviewing this
transaction to determine whether it would affect competition in the country or
in other markets.
In January, Google acquired smartwatch technology worth $40 million from Fossil Group (NASDAQ: FOSL). A part of Fossil’s team working on the technology was also transferred to Google. This deal was also aimed at boosting Google’s capabilities in the wearables market.
In Alphabet’s most recent quarter, revenues from the Google segment increased 20% year-over-year. Google other revenues, which include Google Cloud, increased 39% year-over-year. Alphabet’s shares have gained 30% this year. The company has a market cap of $939 billion. The stock was up 1.3% in afternoon hours on Thursday.