HubSpot (HUBS) shares tumbled after reports that Google parent Alphabet (GOOGL) is no longer pursuing an acquisition of the 澳洲幸运5官方开꧟奖结果ജ体彩网:customer relationship management (CRM) company.

Shares of HubSpot finished Wednesday r♋ecently down about 12%, leaving them down som🌟e 10% year-to-date.

Google reportedly decided to end its efforts to acquire HubSpot, according to Bloomberg reports citing sources close to the matter.

HubSpot Would Have Been Alphabet's Largest-Ever Acquisition

The potential deal, first 澳洲幸运5官方开奖结果体彩网:reported in April, would have represented Alphabet's largest-ever acquisition and its first multibillion-dollar deal since 2022 the roughly $5 billion purchase of cybersecurity company Mandiant. HubSpot's 澳洲幸运5官方开奖结果体彩网:market capitalization is around $25 billion.

Acquiring HubSpot would have helped Google compete with others in the CRM space like Salesforce (CRM), Microsoft (MSFT), and Oracle (ORCL). The acquisition was🔥 expected to be heavily scrutinized by the U.S. governmenܫt.

HubSpot and Alphabet did not immediately respond to Investopedia's request for comment.