HubSpot (HUBS) shares tumbled after reports that Google parent Alphabet (GOOGL) is no longer pursuing an acquisition of the 澳洲幸运🔯5开奖号码历史查询:customer relationship managementಞ (CRM) company.

Shares of HubSpot finished Wednesday recently down about 12%, l♚eaving them down some 10% year-to-𓆉date.

Google reportedly decided to end its efforts to acquire HubSpot, according to Bloomberg reports citing sources close to the matter.

HubSpot Would Have Been Alphabet's Largest-Ever Acquisition

The potential deal, first 澳洲幸运5开奖号码历史查询:reported in April, would have represented Alphabet's largest-ever acquisition and its first multibillion-dollar deal since 2022 the roughly $5 billion purchase of cybersecurity company Mandiant. HubSpot's 澳洲幸运5开奖号码历史查询:market capitalization is around $25 billion.

Acquiring HubSpot would have helped Google compete with others in the CRM space like Salesforce (CRM), Microsoft (MSFT), and Oracle (ORCL). The acquisition was expected to be heavily scrutinized by the U.S. ꧒government.

HubSpot and Alphabet did not immediately respond to Investopedia's request for comment.