Cash-Rich Google Eyes Acquisitions

18 May 2005

Internet search engine giant Google is eyeing major technology acquisitions to extend its services to users and advertisers.

In a regular filing to the US financial watchdog, the Securities and Exchange Commission, the California-headquartered company says it intends to spend a "significant amount of cash" on acquisitions and other investments in 2005.

More than $600 million (€475.05m; £326.65m) is to be invested in property and equipment, including new computer servers and networking equipment.

Google has plenty of cash to fund its purchases, with $2.5bn burning a hole in its balance sheet at the end of March.

The company adds: "Through these acquisitions and investments we acquire engineering teams and technologies that we believe will help us expand and grow our business."

Data sourced from Financial Times online; additional content by WARC staff