Google parent Alphabet shelves interest for HubSpot, Bloomberg News reports

(Reuters) -Google-parent Alphabet has abandoned its plans to buy online marketing software company HubSpot, Bloomberg News reported on Wednesday, citing people familiar with the matter.

HubSpot shares fell nearly 12% in afternoon trading while Alphabet shares were up 1.2%.

In April, Reuters had reported, citing sources, that Alphabet was in talks with advisers about making an offer for 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, the Bloomberg report said.

Google and HubSpot did not immediately to Reuters requests for comments.

(Reporting by Harshita Mary Varghese; Editing by Shailesh Kuber and Alan Barona)