The Chief Executive of Google Cloud Thomas Kurien is all in action to buy Looker this Thursday.
Looker is a private data analytics company. Santa Cruz- California based was initiated in 2012 and has the venture capital of $218million. It employs around 800 people with a value of $1.6 billion. Kurien stated that it would benefit from Google’s resources and it was only logical as Looker perfectly aligns with Google to profit from its business intelligence tools. The deal is said to be brokered for $2.6 billion. It is intriguing to know that Kurien only joined Google last November and is all set to buy this new software. Sources state CapitalG to be previously interested in Looker.
A tool of Google Cloud – BigQuery is a major customer favourite for managing large datasets according to cloud industry analysts. Looker’s tools eliminate analysts job of writing complicated scripts. Instead, it allows calculations for items such as high-value customers and revenue and visualizing trends in their data. In an interview with Reuters, Kurien advocated the similar cultures of Looker and Google Cloud. Looker’s Chief Executive Frank Bien will stay with Google under Kurien.
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Their share in customers crosses 350 including Hearst Communications Inc. The specialized features will broaden their customer base according to Kurien. “When we looked at how do we broaden our portfolio, [data and analytics] is a segment where we have strength,” Kurian said. Looker is “complementary and completes our analytics foundation.” It is also the biggest buy of Google since Nest in 2014 for $3.2 Billion.
The various comments on this deal include “smart choice”, said by Boris Evelson of Forrester Research. Cowen also estimated Looker’s 2019 Revenue to cross $140 million. Their competitors also fell significantly. Tableau shares fell 3.7%, and Domo dropped 0.4%. Microsoft rose 1.6%, and Alphabet increased by 0.3%.
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