Schmidt Forecasts Monthly Acquisitions
Eric Schmidt has laid out a good news/bad news scenario for people who would like to become part of Google. On the one hand, he intends to acquire about one small company per month. On the other, it sounds like most of Google’s "now hiring" signs are going to remain in storage.
According to Reuters, Schmidt said, "Acquisitions are turned on again at Google and we are doing our normal maneuvers, which is small companies. My estimate would be one-a-month acquisitions and these are largely in lieu of hiring."
It’s difficult to read too far into that decision. Before the recession, Google would both buy companies on a regular basis and hire employees left and right. So Schmidt might holding back because he’s still concerned about the economy’s health. (Side note: Nasdaq dropped 0.69 percent today, while Google slipped 0.12 percent.)
But since Google’s habit of taking on thousands of new workers sometimes drew criticism, he may just be reacting to that.
Anyway, Schmidt did claim in reference to the recession, "It’s clear that the worst is behind us."
Also, don’t be shocked if Google decides to spend more than a couple million dollars now and then, as Schmidt said, "There may be larger acquisitions, but they really are unpredictable."