AP has reported Google has purchased a Web.20 Wiki company called Jotspot, cite but apparently the purchase price has not be disclosed. Seeing as how the deal has officially closed, how can google legally not disclose the purchase price if they’re a public company?
What are the terms of the acquisition? Has it closed yet?
The terms of the acquisition are confidential and the deal is officially closed.
Google hasn’t even issued a press release yet. The deal has just been mentioned on their blog and at the Jotspot website. I’m sure the details will be available over the next few days.
The rules of form 8-K require a public company to disclose within four business days the entering into a material definitive agreement not made in the ordinary course of business (including, among other things, a brief description of ther terms and conditions), and the completion of acquisition of a significant amount of assets, otherwise than in the ordinary course of business (including, among other things, the nature and amount of consideration).
So, if you don’t see an 8-K within a few days, it’s a safe bet that Google has determined that the acquisition (i) is not material, (ii) is not of a significant amount of assets, or (iii) is in the ordinary course of its business.
neat.