Google sets sights on Sweden

Google sets sights on Sweden
US firm Google has invested significantly in Sweden in the past decade, with three of its 14 acquisitions in Europe, the Middle East and Africa since 2001 in the country.

The purchase of Global IP Solutions early this year followed the acquisition of Marratech and Trendalyzer in 2007, and the search engine giant is on the hunt for more innovative technology firms.

“Our Swedish buys have been very good. It is no coincidence. Sweden has great engineers and active venture capitalists,” said Anil Hansjee, who is responsible for Google’s acquisitions in the region, to Dagens Industri (DI).

Hansjee told the newspaper that the firms act as Google “scouts” to help in the hunt for further prospective buys.

“This makes me all the more convinced that we will make further Swedish acquisitions,” he said to DI.

Hansjee cited Sweden’s quality universities, active venture capitalists and “the legacy of Ericsson” as contributing factors that make the country an attractive destination for further investment from Google.

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