Eric Schmidt, CEO of Google, has just announced that Google is ready to commence with new acquisition activity.
According to AP, Schmidt is quoted as saying “that the worst of the global recession is over, seeing improvement both inside and outside the United States.” These statements came from an interview Mr. Schmidt conducted in Pittsburgh at the G20 convention.
Since Google is so integrated into our economy, and into our lives globally, if Eric Schmidt the CEO of Google says that he sees the worst of the recession as over, then in my opinion, it’s a pretty authoritative source making that statement.
Schmidt goes on to say, “What we see at Google is some level of improvement and what is more important is we see it not just in the United States but outside the United States.
“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,” Schmidt said.
“There may be larger acquisitions but they really are unpredictable.”
All of these statements spell great news both for small tech companies that Google might be reviewing for acquisition, and for the economy as a whole.
Google has already said that search is a leading indicator of the economy. And with statements like this coming from the CEO of the search giant, it’s probably a solid bet that our recession has indeed hit bottom!