Google spurred hopes for a tech-sector recovery with a surprisingly robust quarterly earnings report and news that it’s in the mood to shop. IBM also delivered better-than-expected results on the heels of a stellar report from bellwether Intel earlier in the week. Mergers and acquisitions are likely to be making headlines in the days ahead. Cisco, for one, has a couple of multibillion-dollar deals in the works.
Google and other tech companies — notably Cisco (Nasdaq: CSCO) , which hopes to acquire video-conferencing company Tandberg (possibly for more than the $3 billion it initially offered) and mobile infrastructure firm Starent for $2.9 billion — are clearly feeling positive enough about the economy to embark on major acquisitions, said Scott Testa, a business professor with Cabrini College.
“I think going forward we are going to see more mergers and acquisitions across a wide range of industries, both large and small deals,” he told the E-Commerce Times.
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