Shares of marketing and customer service software company HubSpot rose 5% after reports that it could be acquired by Google's parent company Alphabet.
The alphabet is reportedly considering bidding Reuters reported Thursday about HubSpot. Alphabet did not immediately respond to Quartz's request for comment. A HubSpot spokesperson told Quartz that the company “does not comment on rumors or speculation.” HubSpot's stock price rose as much as 11% to $693 on the news, but fell to $660 by the end of the trading day.
The company is valued at $35 billion, making it Alphabet's biggest acquisition to date, but it is not certain whether Alphabet will make an offer, according to Reuters. Reports of Alphabet's possible acquisition of HubSpot come just as the company and its tech giants are under fire from antitrust regulators. Google is facing two lawsuits from the Department of Justice for allegedly creating monopolies in the digital advertising and search engine markets.
meanwhile, Apple is being sued by the Department of Justice Facebook and Amazon are fighting lawsuits with the FTC for creating monopolies in personal networking and online retail.
clock: Apple isn't alone: Google and Facebook also face scrutiny from the Department of Justice and FTC
In terms of numbers
2: Number of major antitrust lawsuits brought against Alphabet Inc.'s Google by the Department of Justice
$35 billion: According to Reuters, HubSpot's market value
11%: How much did HubSpot stock rise after reports that Alphabet could make a takeover offer?
$73.8 billion: alphabet profit Year ended December 31, 2023
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