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MOUNTAIN VIEW -- Google (GOOG) confirmed Wednesday it has agreed to acquire a startup for an undisclosed sum, two days after the Internet giant's name was used in a fake acquisition announcement.

Google will purchase online coupon startup Incentive Targeting, which allows companies that sell groceries and consumer products to offer deals directly to consumers and accurately measure their return on investment.

"As part of Google, we will have the resources and expertise to continue the transformation of couponing from a way to give discounts to a way to build business," the Cambridge, Mass.-based company said on its website in announcing the acquisition.

(FILES)This January 11, 2011 screen file image shows the Google logo in Washington, DC.
(FILES)This January 11, 2011 screen file image shows the Google logo in Washington, DC. (Karen Bleier/AFP Photo)

Google verified Incentive Targeting's announcement, which came two days after a hoax news release claiming the Mountain View company purchased a Wi-Fi hotspot company for $400 million. Several technology-focused blogs and The Associated Press reported that acquisition, of Rhode Island-based ICOA, before it was found to be untrue.

"We look forward to working with Incentive Targeting in our ongoing efforts to help consumers save time and money and enable retailers to deliver relevant discounts to the right customers," a Google spokeswoman said in an email.

Mike Dudas, an executive in Google's mobile commerce division, said on Twitter that his company will use Incentive Targeting "to power highly targeted manufacturer and private label coupon programs."


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Google did not announce a purchase price or any other details of the move.

Google stock moved higher Wednesday, with shares closing up 1.9 percent at $683.67.

Contact Jeremy C. Owens at 408-920-5876; follow him at Twitter.com/mercbizbreak.