CEO says Google plans to buy about a company a month
— -- The Web search giant has historically maintained a steady pace of acquiring small, privately held companies, but its deal machine took a breather earlier this year when Schmidt said that prices were too high for his liking.
"Acquisitions are turned on again at Google," Schmidt told Reuters Television before delivering a speech on green technology on the fringes of the G-20 summit in Pittsburgh.
"My estimate would be one-a-month acquisitions, and these are largely in lieu of hiring," he said.
In August, Google announced the purchase of video software maker On2 Technologies for $107 million, its first acquisition of a public company.
Schmidt also reiterated his view that the worst of the global recession is past. "What we see at Google is some level of improvement, and what is more important is we see it not just in the United States but outside."
Google has seen revenue growth slow, although its paid search advertising business has held up better than other forms of ad-based online businesses. Last week, it stepped up efforts to challenge Yahoo in display advertising with the introduction of its new DoubleClick ad exchange.
Some of Google's plans, including a project to create a massive digital library, have raised the attention of regulators. Schmidt said recent criticisms by the U.S. Justice Department about the plan "seemed quite reasonable." If there are " minor changes" to be made to Google's settlement with groups representing authors and publishers, he said, "That's a pretty good thing to do."
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