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Google Spends $1.4 Billion in Business Development During 2011

Google has revealed that it spent over $1.4 billion in the first 9 months of 2011.

The search giant stated the reason behind spending such a massive amount over such a small duration of time is to expand its business to previously unexplored territories like travel services, local deals and so on.

According to the disclosure made by the company, $265 million out of the 1.4 billion plus amount was spent in the month of September alone.

$151 million of the amount spent was targeted at acquiring the restaurant review company Zagat Survey LLC in September.

In addition, the company also spent about $114 million to purchase Daily Deals GmbH during the same month.

In a regulatory filing on Wednesday, the undisputed king of the Internet search market stated that the value of patents and already-in-place technologies it managed to pocket through these acquisition deals amounted to about $407 million.

Google also purchased Motorola Mobility in August for $12.5 billion. The acquisition beefed up the company's patent portfolio significantly. The Motorola acquisition deal is currently under a federal antitrust review.