Google's decision not to acquire HubSpot has not been explicitly disclosed, but there could be several reasons behind it. Google may have reevaluated the strategic alignment between its existing offerings and HubSpot's CRM services. If the acquisition didn't fit well with Google's long-term vision or business goals, they might have opted out.
The acquisition, now in shelved, was seen as a strategic move to bolster Google's competitiveness against Microsoft in the customer relationship management (CRM) sector. If the acquisition would have materialized then this could have significantly shake up the market, as Google Workspace already challenges Microsoft's Office platform, and adding HubSpot could have been intensified this rivalry further.
The tech industry is dynamic, and market conditions can change rapidly. Google might have reconsidered based on competitive pressures, regulatory concerns, or other external factors.
In an another speculation of dropping this acquisition, pricing negotiations could have been a reason as negotiation often hinge on valuation and pricing. If the terms didn't align with Google's expectations, they might have decided against the acquisition.
Integrating two large companies with different cultures, technologies, and processes can be complex. Google might have anticipated challenges in merging HubSpot seamlessly into its ecosystem.
Google may have explored other avenues for growth or investment. Sometimes, companies choose to invest in internal development or explore partnerships instead of acquisitions.
It is to be noted however that Google hasn't officially disclosed their reasons.
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