Talks about buying marketing software provider HubSpot have advanced, according to people familiar with the situation at Google parent Alphabet.
Bloomberg reported that Alphabet has discussed the details of a potential partnership with HubSpot, according to the people who asked not to be identified because the information is confidential.
HubSpot shares have increased by around 32% in the last year, giving the business an estimated value of $30 billion. The stock spiked 6% in pre-market US trading on Thursday.
The sources stated that deliberations are still underway, and no agreement has been reached. According to the report, there is no certainty that the corporations will proceed with a deal, and another suitor may emerge.
Purchasing HubSpot, a customer relationship management (CRM) company focusing on small businesses, would fill a void that may help Alphabet compete with major market leaders such as Microsoft, Oracle, and Salesforce.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
