(MENAFN) Google announced spending as much as USD30 billion of its offshore cash reserves on buying foreign companies or technology rights, The Peninsula Qatar reported.
The internet giant said that the bulk of the money it is raising outside the country is likely to be spent on acquisitions.
"We continue to expect substantial use of our offshore earnings for acquisitions as our global business has expanded into other product offerings like mobile devices," Google said.
It is noted that Google spent about USD1.4 billion last year on more than 20 strategic deals, including the USD1 billion acquisition of Israel-based Waze.
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