Google Discloses $151 Million Price Tag for Acquisition of Zagat Service
Google Inc. (GOOG) spent $151 million last month on Zagat Survey LLC, the review service known for its burgundy-colored restaurant guides, part of $1.44 billion worth of acquisitions during the first nine months of 2011.
Google also said that it paid $114 million last month for Daily Deals GmbH, a privately held online-commerce site. The disclosures were included in a regulatory filing today from the Mountain View, California-based company.
The world’s largest Internet-search provider is using acquisitions to add services and find new sources of advertising. Google made 57 acquisitions and purchases of intangible assets during the first three quarters of the year, according to the filing.
Earlier this year, Google completed the purchase of ITA Software Inc., a travel-data provider, for $676 million in cash, according to the filing. In August, the company said it would spend $12.5 billion for Motorola Mobility Holdings Inc. That acquisition, Google’s largest deal, will give it more than 17,000 patents, helping it protect its mobile Android software from intellectual property challenges around the world. It’s slated to be completed by early 2012.
Google shares rose $3.15 to $586.31 today. The stock has fallen 1.3 percent this year.
The company’s growth and expansion into new markets have brought increased regulatory scrutiny, Google said in the filing. The company faces reviews from the Federal Trade Commission, the European Commission and state attorneys general.
In June, Google received a civil investigative demand from the FTC’s Bureau of Competition and a subpoena from the FTC’s Bureau of Consumer Protection. State attorneys general from Texas, Ohio, and Mississippi also have issued similar civil investigative demands. The company said it is cooperating with the agencies.
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