Natalie Parkinson
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Google triples deal spending to $4.2B in 2014 first half

Google Inc. more than tripled spending on acquisitions in the first half of the year to $4.2 billion, as the Internet company ramps up investments to expand its services.

The world’s largest online advertiser spent $3.2 billion for thermostat company Nest Labs Inc. in February and an additional $1 billion on other purchases in the first six months of 2014, the Mountain View, California-based Web company said in a filing yesterday. That’s up from $1.3 billion for the same period a year ago, according to a previous filing.

The 2014 numbers exclude the more than $1 billion that Google has announced it’s paying for home-camera company DropCam Inc. and satellite service Skybox Imaging Inc.; those deals didn’t close in the first half.