Google Inc., owner of the world’s most popular Internet search engine, is in talks to acquire Yelp Inc. for more than $500 million, a person familiar with the discussions said.
The timing of a deal hasn’t been determined, said the person, who requested anonymity because the talks aren’t public. Matt Furman, a spokesman for Mountain View, California-based Google, declined to comment.
Google, which agreed to buy AdMob Inc. for $750 million last month, is stepping up acquisitions after a lull during the recession. San Francisco-based Yelp, a Web site that runs user- written reviews of restaurants and other businesses, would give Google a new source of local content.
Google rose $4.18 to $598.12 to 1:22 p.m. New York time in Nasdaq Stock Market trading. The shares have almost doubled in value this year.
The technology blog TechCrunch reported the negotiations earlier.