Sunday, January, 17, 2021 01:11:20
The acquisition would build upon an existing partnership, wherein the two firms share over 350 joint customers

California based multinational technology giant Google LLC recently announced that it has inked an agreement to buy Looker, a provider of software for business intelligence and data analytics, in an all cash transactional valued at $2.6 Billion. Looker is expected to join Google cloud following the transaction closure.

The acquisition of Looker will help Google enhance the delivery of extensive data analytics solutions to the customers. Sundar Pichai, CEO of Google expressed his excitement over the deal and believes that it will help customers tackle great challenges.

CEO of Looker, Frank Bien observes that the combination of both companies will have the brightest minds working together to achieve higher results, fueling Looker’s mission of empowering humans with smart data use. He further adds that the merger will reinvent the approach to solving business issues with data that is on a much higher scale and value point.

Frank Gens, a senior Vice President and chief analyst of IDC, commented that Google Cloud is a leading data warehouse provider in the rapidly blooming data analytics market. The integration of Looker will only serve to strengthen their capabilities to cater to the needs of the customers while they place equal focus on the advancement of multi-cloud, Frank mentioned.

According to sources with knowledge on the matter, the acquisition would supposedly build upon an existing partnership, wherein the two firms share over 350 joint customers like Hearst, Sunrun, King, Yahoo, WPP Essence and Buzzfeed. The acquisition is expected to be finished by the year end and it is also subject to appropriate regulatory approvals and closing conditions.

For the record, the services of Looker have been trusted by more than 1,700 industry leaders such as Amazon, IBM, Sony, Spotify, The Economist and Lyft. It has its headquarters in Santa Cruz, Cali., US, with offices in other parts of the world.

Source Credits - https://abc.xyz/investor/news/releases/2019/0606/