Google spent $ 2.6 billion to buy data analysis company.

Alphabet, the parent company of Google’s largest search engine, announced on June 6 that it will buy Looker – a private equity firm in the field of big data analysis. This $ 2.6 billion cash deal will be the first major acquisition since Thomas Kurian became the CEO of Google Cloud.

Reuters reported that Google’s cloud computing business is currently ranked third globally in terms of market share, but has been a long way ahead of its rivals Amazon and Microsoft in operating revenues for infrastructure leasing businesses and Other computing tools.

However, among parts of Google Cloud, BigQuery – a tool for large data management – is one of the highlights of customer attraction, analysts say.

In a Reuters interview, Kurian CEO said he wanted to increase operations in the data analysis department.

 

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Looker and Google Cloud have a lot in common with culture and have more than 350 customers in common, so the deal promises to go smoothly.

Based in Santa Cruz, California, Looker was founded in 2012 and has about 800 employees. The company raised $ 281 million in venture capital and was valued at $ 1.6 billion in the round of funding last year.

Looker’s tool allows analysts to determine calculations for items such as revenue or large customers, then virtualize trends in data without having to write complex scripts.

Analysts say that Looker is one of the best business analysis tools in the cloud era and this tool will benefit from Google’s resources. According to some estimates, Looker will earn about $ 140 million in 2019.

Mr. Kurian, who joined Google in November last year, said the Looker acquisition would not be subject to antitrust scrutiny, because Google is acquiring a software company and not data. He also said it would allow Looker to connect to Amazon and other cloud services competing with Google.

The deal is expected to be completed this year, and it will be Google’s biggest acquisition since buying Nest for $ 3.2 billion in 2014.