Google has acquired group-buying company DailyDeal for an undisclosed sum, according to reports.
Google has yet to officially confirm reports of the purchase but a post on the official DailyDeal blog claimed the two-year-old German start-up has been acquired by the search giant.
“We see great opportunity to better connect businesses with consumers on a much larger scale, and we have found a team that shares our vision,” read the post. “By combining our expertise with the Offers team at Google, we hope to expand our efforts to provide even greater deals to consumers.”
Goggle was reported to be in negotiations with rival group-buying company Groupon last year, with market sources indicating that it was prepared to invest up to $6bn for the company. However, the negotiations came to nothing with Groupon eventually opting to float on the US stock exchange (nma.co.uk 22 November 2010).
The purchase represents Google’s ongoing attempts to diversify its revenue streams from its core of search and display advertising.
The news comes as Google is tipped to unveil its Google Wallet service in Europe today at the NFC World Congress conference host in France (nma.co.uk 19 September 2011).