Alphabet's Google (GOOGL) - Get Report said Thursday its Cloud business was acquiring Looker, a business-intelligence and data-analytics company, for $2.6 billion in cash.

Upon the close of the acquisition, Looker will join Google Cloud.

"The addition of Looker to Google Cloud will provide customers with a more comprehensive analytics solution - from ingesting and integrating data to gain insights, to embedded analytics and visualizations," the company said in a statement, adding that it plans to harness Lookers' focus on machine learning and artificial intelligence.

"Google Cloud is being used by many of the leading organizations in the world for analytics and decision-making. The combination of Google Cloud and Looker will enable customers to harness data in new ways to drive their digital transformation," said Google Cloud CEO Thomas Kurian, who joined the company from Oracle earlier this year.

"We remain committed to our multi-cloud strategy and will retain and expand Looker's capabilities to analyze data across clouds," Kurian added.

The two companies already work together with more than 350 joint customers, including Buzzfeed, Hearst, King, Sunrun, WPP Essence, and Yahoo!, Alphabet said.

Subject to closing conditions and regulatory approvals, the deal is expected to be finalized later this year.

Shares of Alphabet were down 0.67% at $1,037.65 on the Nasdaq Stock Market.

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