Google hires adviser to review Twitter bid - Mobile World Live

Google hires adviser to review Twitter bid

03 OCT 2016

Google is working with financial adviser Lazard as it mulls a bid for struggling social networking firm Twitter, reported Bloomberg.

The news follows reports last week indicating Google was in talks with Twitter over a possible deal, while Salesforce and Walt Disney also emerged as potential suitors.

According to a Bloomberg source, Alphabet owned Google has now tapped up Lazard to consider the deal, but the company still hasn’t indicated it will definitely make an offer.

Twitter is thought to be valued at $16 billion, and has hired Goldman Sachs and Allen & Co to solicit potential buyers, added Bloomberg.

Its board reportedly met last month to discuss a number of issues, including a potential sale.

Twitter has struggled to grow its user base for more than a year, and remains loss making, as it attempts to reshape its strategy by focusing on video.

Out of the three bidders attracting initial attention, a Twitter-Google tie-up is considered most viable, according to analysts.

The companies have also previously struck deals around advertising and mobile publishing products, and Twitter has also recently agreed to integrate its content within Google search.

Google, meanwhile, has struggled to develop its own social media platform.

Lazard was the financial adviser for Google’s proposed $625 million acquisition of software firm Apigee, announced in September.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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