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Square denies acquisition talks with Google

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April 21
6:50 AM 2014

Square Inc did not enter acquisition talks with Google, contrary to a report from The Wall Street Journal (WSJ). Sources close to both firms said the talks that transpired were not at a serious level, according to TechCrunch.

One source said Square was looking for a buyer and had met with mergers and acquisitions (M&A) execs from different firms including Google's Don Harrison. The WSJ added that the payments firm talked with PayPal and Apple. Reports indicate that a deal with Apple would be more likely since Dorsey deeply admires the company's products, the report explained.

Jessica Lessin of The Information reported that Google actually considered buying Square. However, the meetings between the two companies did not actually reach the level of acquisition talks. Rather, they were just "meet and greet" meetings. A Square spokesperson also denied the acquisition talks, the report detailed.

Square was co-founded by Jack Dorsey, the person who co-founded Twitter. To date, the firm has raised a total of $300 million in capital. Its investors include Khosla, Kleiner Perkins, and Sequoia, TechCrunch reported.

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