According to a report by Reuters, Google was exploring opportunities to acquire HubSpot. Alphabet backed Google’s potential opportunity of taking over Hubspot, a US-based marketing software development company with a market valuation of $32 billion, which will boost its capability to compete with Microsoft in providing cloud-based applications to enterprises.
This deal would be one of the biggest deals with an aim to expand its product and application offerings for businesses.
Google and Microsoft are already in a fierce competition. Google’s workspace collaboration offerings are already in competition with Microsoft’s Office platform.
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Acquiring HubSpot will make Google a direct competitor in the customer relationship management industry to Microsoft’s Dynamics 365 products.
Hubspot, which develops marketing software for small and medium-sized businesses, is exploring opportunities to maintain its sales trajectory in the face of a global economic slowdown.