Internet search services provider Google Inc., US, completed 40 acquisitions worth $1.6 billion during the first three quarters of 2010, according to a regulatory filing made by the company.
According to the company's quarterly report filed with the US Securities and Exchange Commission, Google's largest deals so far this year include mobile advertising start-up AdMob for $681 million, social networking app developer Slide for $179 million and video software maker On2 Technologies for $123 million. Apart from these, the company reportedly completed 37 other deals worth $626 million between January and September. The deals reflect Google's commitment to invest heavily in new technologies and top-level talent that is expected to enable the company to maintain its lead in the search market and push into new emerging opportunities.
The search giant has emerged from the recession with a series of strong quarterly financial reports, and plans to expand into areas other than its mainstay online-advertising business, which accounts for about 97 percent of Google's revenue. The filing states that the company plans to continue investing in systems infrastructure, increase hiring, adjust compensation programmes and continue its current pace of acquisitions.
In its regulatory filing, Google said that for all of the purchases it made this year through the end of September, the patents acquired have a 'weighted average useful life' of just more than four years. The company ended the quarter with nearly $33 billion in cash.
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