Google M&A Having Record Year

Google's M&A group is having a record year, with the company buying a young start-up almost every two weeks.

Previously, Google CEO Eric Schmidt had said that the company would make at least one acquisition every month, but Google's M&A boss David Lawee has surpassed everybody's expectations by making record number of acquisition this year.

The search giant has made 19 acquisitions so far, buying companies ranging from music streaming services to social networking platforms, news agency Reuters reports.

Google has already started to use some of the technology it has acquired by adding 'layers' of social networking to its existing product line. Rumours also suggest that the company is developing a social gaming platform, along with a music streaming service to rival Apple's iTunes.

Lawee said that Google has to battle an average of 5 to 6 rival companies each time it wishes to make an acquisition, including Apple, Microsoft, Cisco, Amazon and eBay.

He said: “In almost every deal that we look at, there's always someone or one of those companies interested.”