Google Purchases Analytics Firm Looker in an All-Cash $2.6 Billion Transaction
Google acquires big data analytics firm Looker in an all-cash $2.6 Billion Transaction to offer its customers a comprehensive cloud-based analytics solution. The acquisition will complete later this year and is a part of Google’s recent multi-cloud strategy shift. The announcement follows after the launch of Anthos a rebranded Google cloud platform that works really well in conjunction with AWS and Azure.
Founded in 2011, Looker’s analytics platforms help customers extract meaningful insights from very large data pools by leveraging tools such as –
“Google Cloud is being used by many of the leading organizations in the world for analytics and decision-making,” Google Cloud CEO Thomas Kurian said. “The combination of Google Cloud and Looker will enable customers to harness data in new ways to drive their digital transformation. We remain committed to our multi-cloud strategy and will retain and expand Looker’s capabilities to analyse data across Clouds.”
“Now, we’ll have greater reach, more resources, and the brightest minds in both analytics and cloud infrastructure working together to build an exciting path forward for our customers and partners,” Looker CEO Frank Bien said. “Together, we are reinventing what it means to solve business problems with data at an entirely different scale and value point.”
So far, Looker has raised $300 million from its inception — its 2017 Series D round was backed by Capital G that had also invested in Alphabet, Inc., Google’s parent company. Hence, this news was expected since both the companies share a common vision, client list, and investors. Looker was valued at $1.6 billion after its Series E round late last year. Google is shelling out a billion dollars more indicating the company’s seriousness in having an edge in the fiercely competitive big data and analytics market.
Looker, on the other hand, gets the perfect partner to scale.