Google parent Alphabet shelves interest for HubSpot, Bloomberg News reports

07/10/2024

Less than a minute

2024.07.10 16:05

(Reuters) -Google-parent Alphabet (NASDAQ:) has abandoned its plans to buy online marketing software company HubSpot (NYSE:), Bloomberg News reported on Wednesday, citing people familiar with the matter.

HubSpot shares fell nearly 12% in afternoon trading while Alphabet shares were up 1.2%.

In April, Reuters had reported, citing sources, that Alphabet was in talks with advisers about making an offer for HubSpot.

© Reuters. FILE PHOTO: Figurines with computers and smartphones are seen in front of Alphabet logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

Alphabet had communicated its interest in a potential deal with HubSpot earlier this year, but the sides didn’t reach a point of detailed discussions around due diligence, the Bloomberg report said.

Google and HubSpot did not immediately to Reuters requests for comments.

07/10/2024

Less than a minute

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