The US IT giant has almost tripled the cost of acquisition of firms. Thus, Google spent $4.2 billion in the first half of the year. The greatest portion of its investments goes to expansion of its services. The world’s largest online advertiser spent $3.2 billion for thermostat company Nest Labs Inc. in February and $1 billion on other purchases in the first six months of 2014, Bloomberg said. That is up from $1.3 billion for the same period last year. The 2014 numbers exclude the amount over $1 billion that Google spent for home-camera company DropCam Inc. and satellite service Skybox Imaging Inc. Those deals did not close in the first half. Google boosts its deal spending as it aims to branch out into new markets and bolster its core business.
The company’s acquisitions in the reporting period cover nearly all high-tech industries from drones to video advertising.
Representatives of Google note that these purchases can update existing technologies, thus improving the quality and number of its products and services.
