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Eric Schmidt: Google Doubles Pace of Acquisitions In 2010

Bloomberg reports Google steps up their anticipated acquisition levels in 2010 and plans on keeping that pace going. Google’s CEO Eric Schmidt has doubled the anticipated pace of acquisitions this year and expects to maintain that rate after some internal projects have failed to spur growth. “The opportunities are there,” Schmidt said “We can afford it. We’re in a mode of investment for long term.” Google has announced or completed at least 18 acquisitions this year, including “;Aardvark, reMail, Picnik, DocVerse, Simplify Media, Episodic, PlinkArt, Agnilux, LabPixies, Bump Technologies, Global IP Solutions, Simplify Media, Invite Media, ITA Software, Metaweb, Instantiations, Slide.com and Jambool.”

Using cash to buy startups is better than letting it sit on the balance sheet, earning a low interest rate, said Andy Miedler, an analyst with Edward Jones in St. Louis. Google had more than $30 billion in cash and marketable securities at the end of the last quarter.


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