Google parent said to be in talks to buy HubSpot

Google parent Alphabet has been progressing in talks to acquire marketing software provider HubSpot, according to sources.

Alphabet has discussed terms of a potential deal with HubSpot, said the people, who asked not to be identified because the information is private. HubSpot shares have gained about 32 per cent over the past 12 months, giving the company a market value of $30 billion.

HubSpot employed more than 1,300 people in Ireland last year, according to its website. Alphabet employs more than 5,000 directly in Ireland, as well as a large number of contractors.

Deliberations are ongoing and no agreement has been reached, the people said. There’s no certainty the companies will move forward with a deal, and it’s possible another suitor could emerge, they added.

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Representatives for Alphabet and HubSpot didn’t respond to requests for comment.

The potential deal would rank among the biggest takeovers this year. Buying HubSpot, a customer relationship management company that focuses on smaller businesses, would fill a gap that could help Alphabet compete with other players in that market such as Microsoft, Oracle and Salesforce.

Reuters reported last month that Alphabet had met bankers to discuss the possibility of an offer for Cambridge, Massachusetts-based HubSpot. – Bloomberg