Google's CEO Eric Schmidt believes that the world's economic state is turning a corner and it's now time for his company to grow its workforce through acquisitions. Schmidt is so confident that the recession is waning that the search engine provider wants to conduct one acquisition a month to bolster the company's workforce.
"It's clear that the worst is behind us," Schmidt told Reuters Television in an interview on Wednesday, ahead of delivering a speech on green technology on the fringes of the G20 summit in Pittsburgh.
Although Google has always focused on acquiring smaller companies, it dialed down its acquisition activity in 2009 because Schmidt said that many potential prospects wanted too much money to be acquired. Evidence of Google's acquisition activity was on display last month when it reached a deal to acquire video software developer On2 Technology for $106.5 million.
- Reuters has this article
Google buys video compression firm On2 for $106.5M