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Google Keeping Cash for Investment Opportunities

CFO Pichette says Google wants to retain strategic ability to pounce.

By Brian Womack, Bloomberg | Updated on February 28, 2013

Google Inc., operator of the world’s largest search engine, wants to keep money on hand in order to be able to invest quickly when needed, Chief Financial Officer Patrick Pichette said.

Google, which had $48.1 billion in cash and short-term investments at the end of 2012, wants to retain its “strategic ability to pounce,” Pichette said at a Morgan Stanley conference. He cited the company’s ability to move “on a dime” when it agreed to buy Motorola Mobility Holdings Inc. for about $12.5 billion in cash in 2011.

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