Alphabet (GOOGL) Eyes $115M Purchase, Takes On Key Competitor
Alphabet (GOOGL) is looking to make a move to purchase AdHawk, a Canadian startup worth approximately $115M, to expand its efforts in eye-tracking tech. Bloomberg reports that the deal includes $15 million in performance-based payments and is expected to close this week. The purchase will be a gut blow for Apple, as Alphabet surges ahead in the AR technology sector.
AdHawk developed MindLink smart glasses and low-power components that can track eye movements. AdHawk’s staff is expected to join Google’s Android XR team, the report also notes. The team will likely help straight away with Google’s next-gen headset technology.
Alphabet Moves Ahead in AR Space?
The acquisition underscores Google’s renewed focus on augmented reality. In 2023, the tech giant had halted the sales of its Google Enterprise smart glasses and discontinued software support. AdHawk has been available in the market for several years to acquire, even receiving attention from Meta Platforms back in 2022. With Alphabet beating other top companies to the punch, the acquisition could be another step for the company towards picking up the pace on competing tech giants in 2025.
Also Read: Why These 3 Tech Stocks Could Skyrocket—Buy Before They Jump!
Some analysts believe that Alphabet (GOOGL) stock may be poised to double over the next 5 years. The sentiment is held by an expanded few, with the stock previously called a “once in a generation” AI company to invest in. A recent report states that, given the company’s technology and investment priorities, such as the Adhawk investment, it should “at least” double by 2030. Moreover, it notes that the company has already planned to spend $75 billion to compete in an emerging AI sector. Although that appears unsustainable, its digital advertising success has long secured its position.
Alphabet stock is currently up 2% on Tuesday, although shares are down 11% year-to-date. The company is already a leader and fierce competitor in the digital ad and cloud computing space. Therefore, the eye-tracking tech investment is underpinned by that proven success.
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Alphabet (GOOGL) Eyes $115M Purchase, Takes On Key Competitor
Alphabet (GOOGL) is looking to make a move to purchase AdHawk, a Canadian startup worth approximately $115M, to expand its efforts in eye-tracking tech. Bloomberg reports that the deal includes $15 million in performance-based payments and is expected to close this week. The purchase will be a gut blow for Apple, as Alphabet surges ahead in the AR technology sector.
AdHawk developed MindLink smart glasses and low-power components that can track eye movements. AdHawk’s staff is expected to join Google’s Android XR team, the report also notes. The team will likely help straight away with Google’s next-gen headset technology.
Alphabet Moves Ahead in AR Space?
The acquisition underscores Google’s renewed focus on augmented reality. In 2023, the tech giant had halted the sales of its Google Enterprise smart glasses and discontinued software support. AdHawk has been available in the market for several years to acquire, even receiving attention from Meta Platforms back in 2022. With Alphabet beating other top companies to the punch, the acquisition could be another step for the company towards picking up the pace on competing tech giants in 2025.
Also Read: Why These 3 Tech Stocks Could Skyrocket—Buy Before They Jump!
Some analysts believe that Alphabet (GOOGL) stock may be poised to double over the next 5 years. The sentiment is held by an expanded few, with the stock previously called a “once in a generation” AI company to invest in. A recent report states that, given the company’s technology and investment priorities, such as the Adhawk investment, it should “at least” double by 2030. Moreover, it notes that the company has already planned to spend $75 billion to compete in an emerging AI sector. Although that appears unsustainable, its digital advertising success has long secured its position.
Alphabet stock is currently up 2% on Tuesday, although shares are down 11% year-to-date. The company is already a leader and fierce competitor in the digital ad and cloud computing space. Therefore, the eye-tracking tech investment is underpinned by that proven success.
Read More