Mergers and Acquisitions Recap: Google Gets a KICK, NetApp CHATTER
Google (NASDAQ:GOOG) purchases the assets and customers of KikScore, which produces an algorithm that attempts to measure the trustworthiness of a business. The acquired firm will shut down, and the algorithm will be integrated with Google’s Trusted Store Program, which aims at providing “seals of approval” to online merchants. Rumors that Google intends to begin charging for preferential placement within its product search engine results, are being credited for the acquisition.
LabCorp. (NYSE:LH) agrees to buy forensic and clinical laboratory Medtox Scientific (NASDAQ:MTOX) for $241 million, with the $27 per share bid representing a 37 percent windfall over the Medtox’ Friday close of $19.70. The deal is a part of LabCorp’s expansion of its Toxicology Center of Excellence.
NetApp (NASDAQ:NTAP) shares continue their marked volatility Monday, following a Bloomberg article that speculated as to how the stock’s low price and company valuation are sparking chatter that a buyout might be looming. Potential suitors are said to be IBM, Oracle (NASDAQ:ORCL), and Cisco (NASDAQ:CSCO). NetApp holds second place behind EMC on the list of suppliers in the growing networked storage market, but with a probable acquisition price tag of at least $15 billion, it would be a large purchase, even for an IT major.
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