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HubSpot (NYSE:HUBS) edged higher by 1.5% amid a report that Google (NASDAQ:GOOGL) raised its offer last week.
The parties have been in talks for weeks, according to a CTFN report on Wednesday, which cited a source familiar with the matter. A deal could include cash, stock or both, and terms and timing are still unclear.
The latest update comes after HubSpot jumped 8.2% on Tuesday after CNBC’s David Faber said that Google (GOOGL) is in talks for an all-stock offer for HubSpot (HUBS).
“There have been many reports about HubSpot being in conversations with Google,” Faber said on Tuesday. “My understanding is absolutely true, all stock deal for Alphabet to acquire HubSpot.”
The CTFN report also appeared to downplay some speculation that Salesforce (CRM) could be interested in HubSpot (HUBS), with the person telling the publication that HubSpot isn’t a “good fit” for Salesforce.
Bloomberg reported earlier this month that Google was progressing in discussions to purchase HubSpot (NYSE:HUBS). Alphabet (GOOGL) has discussed terms of a possible deal with HUBS. Talks are ongoing, and no deal has been reached. HubSpot (HUBS) has a market cap of more than $30B.