2019 was a year of acquisitions in which several small and large deals were announced. Alphabet’s (NYSE: GOOGL) subsidiary Google also made a few strategic transactions this year to improve its product offerings.
In November, the search giant agreed to acquire wearables maker Fitbit Inc. (NYSE: FIT) for $2.1 billion. The transaction is expected to close next year. This deal is part of Google’s efforts to broaden its footprint in the wearables market that is currently ruled by Apple (NASDAQ: AAPL) and Garmin (NYSE: GRMN).
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.
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard