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That new flexibility comes thanks to the March 27 Google stock split that created a new class of nonvoting "Class C" shares.
While the move was made mostly to ensure that founders Larry Page and Sergey Brin maintain their majority control over the company, the doubling of Google shares has also opened the door to more stock-based acquisitions.
"They couldn't do a big deal before using stock because it changes the voting rights," BGC Analyst Colin Gills told MarketWatch. "Now, they've got a mechanism where they can use their paper for deals and not lose their majority voting rights."
Since Google has long had a lust for buying companies – the Mountain View, Calif.-based tech giant has spent $17 billion on acquisitions just in the past two years – the stock split figures to launch an extended shopping spree.
The only question is what GOOG might buy next. We'll get to some specific areas of interest in a moment, but one overriding motive will drive most of the company's future acquisitions – the need for the best and the brightest brains in tech.
In Silicon Valley, buying companies for the people is so common it has a name: "aqui-hires."
"There is a talent war going on for the future," George Geis, a UCLA professor who studies acquisitions, told CBC News. "You're not only getting someone who knows how to put devices together better, but you're also getting a creative, talented team that knows how to design an interface that can be attractive."
Google even includes language on the retention of employees in its acquisition agreements.
Now let's take a look at the areas where Google will be looking to make deals and some companies that might make attractive targets…