) -- Internet giant
is preparing to hit the
trail, according to CEO Eric Schmidt, providing further evidence of the
Speaking at a green technology event on the fringes of this week's G20 summit, Schmidt told
that acquisitions are "turned on again" and that he expects to do one small deal a month instead of hiring new staff.
The Google chief, who is also an adviser to President Obama, also believes that the worst of the recession is over and is seeing economic improvement both inside and outside the U.S.
As for M&A, the former
CEO said that larger deals are also possible. "There may be larger acquisitions, but they really are unpredictable," he said.
Confronted with a major slowdown in Internet-based
, Google is throwing open its coffers to bring in additional revenue.
There has already been
that Google is eyeing video specialist
, and Schmidt recently
$106.5 million to acquire video compression company
The On2 deal was not the firm's first foray into the video space. Google spent a whopping $1.65 billion to acquire
in 2006, although a major question mark still hangs over its ability to turn the video sharing phenomenon into a profit machine.
It is not just video and search, however, where Google is facing stiff competition. The Mountain View, Calif.-based firm has entered
sphere of influence through its
operating systems. Schmidt, for example, recently
from Apple's board of directors, highlighting the increased
between the two firms.
Internet search, but rival
has high hopes for its
offering. The software giant has also clinched a search partnership with
as part of its long-term plan to challenge Schmidt's firm.
Google shares were flat at $498.25 in extended trading.