Twitter’s stock price flies high following Google acquisition rumours

8 Apr 20151 Share

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Google’s rumoured interest in acquiring Twitter sent the social network’s stock price surging 4pc in trading yesterday.

The latest speculation was sparked by market analysis firm Briefing.com, which claimed Twitter had hired Goldman Sachs to fend off two possible takeover attempts, including one from Google.

Twiter has declined to comment on the rumours.

Google has long had its eye on Twitter, going back to 2009 when, as a fledgling start-up, Twitter spurned Google’s offer of US$250m at the time.

In 2011 another flurry of takeover speculation concerning Google, Facebook and several other companies emerged.

Other companies rumoured in the past to be interested in acquiring Twitter included Apple, which appears to have more synergies with Twitter, which include baking Twitter notifications into its computer operating system OS X.

Rumours of Google courting Twitter reemerged in Janaury, sending Twitter’s stock soaring by 3.3pc.

Twitter has just under 300m active users around the world and went public on the New York Stock Exchange in November 2013. The company employs more than 3,600 people and in 2013 brought in revenues of US$664m.

Twitter logo image via Shutterstock

Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com