Alphabet shelves efforts to buy HubSpot

Alphabet had communicated its interest in a potential deal with HubSpot earlier this year, but the sides didn’t reach a point of detailed discussions around due diligence. — Bloomberg

NEW YORK: Google parent Alphabet Inc has shelved efforts to acquire HubSpot Inc, according to people with knowledge of the matter, putting to bed the prospect of a takeover that would have ranked among the biggest of the year.

Shares of HubSpot, a customer relationship management company, fell as much as 19% Wednesday in New York trading, the most since 2020.