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Google agrees deal for Looker
Posted on Friday, 07 June 2019 11:59
Search engine giant Google has announced its largest acquisition since 2014 as it agreed to buy private big-data analytics company Looker for USD 2.60 billion.

According to Zephyr, the M&A database published by Bureau van Dijk, this represents the Alphabet-owned group’s biggest purchase since the USD 3.20 billion it paid for thermostats manufacturer Nest Labs five years ago.

Looker is expected to join Google Cloud following completion, in the first major deal by the unit’s new chief executive Thomas Kurian.

The target provides a platform which offers business intelligence, data applications ad embedded analytics to employees that also allows organisations to integrate information into the daily workflows of users.

Looker claims to have over 1,700 industry-leading companies have signed up, including Amazon, Sony, Spotify and the recently listed group Lyft.

Founded in 2012, the group is headquartered in Santa Cruz, California, with other offices in San Francisco and New York, as well as internationally in Tokyo and Ireland.

Google believes the deal builds on an existing partnership where the two businesses can share more customers and provide users with a comprehensive analytics service.

Closing is slated for later this year, following the receipt of regulatory approvals.

Kurian said: “The combination of Google Cloud and Looker will enable customers to harness data in new ways to drive their digital transformation.

“We remain committed to our multi-cloud strategy and will retain and expand Looker’s capabilities to analyse data across clouds.”

Looker raised USD 103.00 million in its latest round of funding in December, with investors including Cross Creek Advisors and Looker Data Sciences

The group has secured a total USD 281.00 million in financing since its founding.

Zephyr shows there have been 3,351 deals targeting the data processing, hosting and related services sector announced worldwide in 2019 to date.

The largest of these involves Zhongnan Commercial Group buying Beijing EasyHome New Retail Chain Group, an online building materials and lighting equipment wholesaler, for CNY 35.65 billion (USD 5.16 billion).

Ellie Mae of the US, United Arab Emirates-based Careem Networks and Alibaba Group Holdings, among others, have also featured in deals this year.

© Zephus Ltd