HubSpot Shares Rise After CNBC Anchor Confirms Alphabet Acquisition Rumor – HubSpot (NYSE:HUBS)

CNBC’s David Faber has apparently confirmed rumors of Alphabet acquiring a cloud-based development platform. “There have been a lot of reports about HubSpot talking to Google,” Faber said. “My understanding is absolutely true, the all-stock transaction of Alphabet to acquire HubSpot.” Last month, Reuters reported that Alphabet met with Morgan Stanley advisers to discuss a possible takeover bid for HubSpot.

HubSpot limited liability company HUBS the company’s shares are trending higher on Tuesday, according to an investor summary from Google’s parent company Alphabet limited liability company GOOG GOOGLE will take over the company in an all-share transaction.

Details:

According to a CNBC report David Faber stated that reports about the alleged takeover of Alphabet appear to be true.

“There have been a lot of reports about HubSpot talking to Google,” Faber said. “My understanding is absolutely true, the all-stock transaction of Alphabet to acquire HubSpot.”

Last month, it was reported that Alphabet had met with advisers to discuss a possible takeover bid for HubSpot.

HubSpot provides a cloud-based marketing, sales and customer service software platform and reported total revenue of $2.17 billion in 2023. The company expects full-year 2024 revenue of $2.55 billion to $2.56 billion, with a market capitalization of $30.076 billion. If the deal goes through, it will be Alphabet’s largest acquisition to date.

HubSpot shares are rising rapidly as investors digest the latest reports, with more than 762,000 shares trading as of Tuesday’s session, according to data from Benzinga Pro.

Related news: What’s happening with Salesforce stock?

Hub price action: HubSpot shares were up 7.96% at $637.15 at the time of reporting on Tuesday, according to Benzinga Pro.

Photo: Courtesy of HubSpot, Inc.