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HubSpot shares jump on talks of potential Google deal

Pelican Press

By Pelican Press,
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HubSpot shares jump on talks of potential
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deal

Rafael Henrique | Lightrocket | Getty Images

HubSpot shares rallied 8% on Tuesday after CNBC’s David Faber reported that Alphabet is looking at an all-stock offer for the software company.

Reports of a potential deal first surfaced in early April, when

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published a story saying Alphabet was talking to advisors about making an offer for HubSpot.
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with a story earlier this month, indicating that talks were progressing.

“There have been many reports about HubSpot being in conversations with

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,” Faber said Tuesday. “My understanding is absolutely true, all-stock deal for Alphabet to acquire HubSpot.”

With a market cap of about $33 billion, after Tuesday’s jump, HubSpot would be by far Alphabet’s largest deal ever.

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’s biggest acquisition to date was the $12.5 billion
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in 2011.

HubSpot is primarily used for marketing by small- and medium-size businesses. Its products would presumably fill a gap in helping

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provide marketing technology and customer relationship management tools to its customers, potentially bolstering cloud revenue.

HubSpot shares were up slightly for the year prior to Tuesday’s gains, closing the day at $638.39. The stock doubled in value in 2023.

Alphabet did not immediately respond to CNBC’s request for comment. HubSpot declined to comment.

— CNBC’s Jordan Novet contributed to this report.

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David Faber,Enterprise,Technology,Business,Social media,Breaking News: Technology,HubSpot Inc,Alphabet Class C,Alphabet Inc,business news
#HubSpot #shares #jump #talks #potential #

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#deal

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