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.

cash_envelope

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.


Latest Video

View all videos »

Search »

First the NSA came for, well, jeez pretty much everybody’s data at this point, and I said nothing because wait how does this joke work

— Parker Higgins via Twitter