Alphabet-backed Google Axes The Deal of Acquiring HubSpot

Alphabet-owned Google has reportedly walked away from the deal to acquire HubSpot Inc. Google earlier this year had reported to be exploring opportunities to acquire HubSpot.

Also Read: Freshworks Appoints Ian Tickle to Lead European Sales

The conversations between both the companies, including Alphabet and HubSpot, did not progress because of due diligence and were called off soon after the companies held initial conversations on a conceivable deal. HubSpot, which develops marketing software for small and medium-sized businesses (SMBS), has dropped the most since 2020, down further from April’s peak. On Wednesday, the CRM software vendors’ shares closed 12% lower. On the other hand, Alphabet’s shares were up by 1.2%.

Read More: Google parent Alphabet walked away from HubSpot 

Alphabet-owned GoogleCRM software vendorsHubSpotmarketing software