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Google adds its name to Symphony Communication backers

Last updated: 09:34 06 Oct 2015 EDT, First published: 07:34 06 Oct 2015 EDT

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It means Google joins a list of heavyweight banks and investors

Tech behemoth Google (NASDAQ:GOOG) has reportedly taken a stake in messaging start-up Symphony Communication Services in its latest funding round.

It means Google joins a list of heavyweight banks and investors, like Goldman Sachs, who have backed the group and its cloud-based content sharing platform.

If the deal goes ahead, it could value Symphony at US$650mln.

Symphony’s latest funding round is expected to close this week, the Wall Street Journal reported.

Its service is considered a rival to those of Bloomberg and Thomson-Reuters, which provide news-and-data terminals to exchange messages about financial products and securities. 

Symphony charges just US$15 per user per month and is available to businesses with more than 50 users.

Last month, Symphony reported that it is working with Dow Jones to offer news stories in its service.

Google shares eased a tad in pre-market to US$640.96 after yesterday's 2.32% gain.


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