• Reuters, Wednesday, June 10, 2009 3:30 PM

During his interview with Fox Business, Google CEO Eric Schmidt said the search giant is looking to buy smaller technology companies in the next year to focus on cloud, mobile and open source technology.

"We have been [looking to acquire]," Schmidt said. "We have been wandering around looking at all of the different companies. With the big ones we haven't come across anything we've particularly liked. We are definitely talking to a number of smaller companies but we've done that routinely."

"We primarily look for technology. It's a typical build versus buy. How long does it take us to build it with our engineers, versus there are already engineers in this other company that have built this thing." Reuters points out that Schmidt's comments come as the Internet search giant's growth has slowed from double digit percentages amid global economic turmoil and a sharp, industry-wide decline in advertising.

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