Google Inc. is giving Kitchener-Waterloo a morale boost as the region’s largest technology company struggles to survive.
The search giant will invest an undisclosed amount of money in Communitech, a regional economic development initiative that works closely with 650 technology startups to help them build their ideas into viable companies by providing them with space, funding and support.
Waterloo is clearly a place where real innovation is happening, and the numbers speak for themselves,” said John Lyman, head of partnerships for Google for Entrepreneurs. Almost 1,000 tech companies in the region, $200-million in invested venture capital in the last year, and $500-million in technology company acquisitions during that same time-frame. Google even recently acquired a company that was incubated in Communitech
GOOG is already opening up a new engineering office in Waterloo and will no doubt hire some of the employees that are being pink slipped by BBRY. It would make perfect sense for GOOG to buy BBRY: 1) gain the tech; 2) gain a wrinkle in the phone market to go along with MOT tech; 3) get the buildings and the cash; 4) gain the employees and tons of good will in Canada!!! Virtually no down side and great cost efficiency if done quickly for about 5-5.5 billion (pocket change for google). Canadian government would probably look very positively at the move, which would be grouped with MOT subsidiary, and they have already established good will by committing to Waterloo.
My bet is on GOOG buying BBRY for 5-5.5 (around 10 per share). However, unlike other suiters...they can afford to watch and wait....if no one else steps in they can get it for 9.01 and everyone in Canada (including BBRY employees) will be happy