Liz Gannes

Recent Posts by Liz Gannes

Google Spent $1.3B on Acquisitions So Far This Year, Mostly on Waze

In the first half of 2013, Google spent $1.31 billion on 16 acquisitions, it said in a financial filing today.

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Shutterstock/Fussypony

The largest of those was the mapping startup Waze, which cost $966 million. (We had previously reported that the deal was worth $1.1 billion, as it included an estimated $100 million in performance payouts to staff, which wouldn’t be included in this filing.)

Google explained a little of its math for the Waze deal today: $847 million in goodwill, plus $188 million in intangible assets, minus $69 million of net liabilities assumed.

Other disclosed acquisitions in the first half of this year included Makani Power and Wavii. But there were a lot more deals, too: 15 non-Waze acquisitions of companies and intangible assets cost Google $344 million.

Also in the quarter, Google sold a company of its own: Motorola Home. Arris paid $2.238 billion in cash, plus $150 million in closing adjustment and $175 million in stock, resulting in a net gain of $747 million that was included in second-quarter earnings.

And, lastly, Google cut a bunch of Motorola-related jobs through the Home sale as well as layoffs. In the second quarter, Motorola dropped to 4,599 employees from 15,152. Restructuring has brought cumulative charges of $839 million, Google said.


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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik