Google Inc (NASDAQ:GOOG) Goes Offshore Shopping

Posted by: : Shayne HeffernanPosted on: May 26, 2014 Google Inc (NASDAQ:GOOG) Goes Offshore Shopping

Google Inc (NASDAQ:GOOG) Goes Offshore Shopping

Google announced spending as much as USD30 billion of its offshore cash reserves on buying foreign companies or technology rights, The Peninsula Qatar reported.

The internet giant said that the bulk of the money it is raising outside the country is likely to be spent on acquisitions.

“We continue to expect substantial use of our offshore earnings for acquisitions as our global business has expanded into other product offerings like mobile devices,” Google said.

It is noted that Google spent about USD1.4 billion last year on more than 20 strategic deals, including the USD1 billion acquisition of Israel-based Waze.

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Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
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