At the company's annual meeting, Google (NASDAQ: GOOG) CEO Eric Schmidt told reporters that while the company will certainly consider larger deals, its primary focus will be on building its portfolio through small acquisitions, and that it's focused on acquisitions as a way to build its own portfolio rather than a reaction to competitive pressures.
The company currently acquires about one start-up per week, and sees acquisitions as a way to add to its stable of engineers. It also ruled out entering the Dow Jones (NYSE: DJ) sweepstakes.
I like this strategy: Many a great company have been ruined by big acquisitions, and very few have been built that way. Of course there are exceptions, but a strong focus on core businesses and complementary acquisitions is probably the best way for Google to grow.
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