Google LLC’s parent company, Alphabet Inc., is reportedly progressing in talks to acquire marketing software provider HubSpot Inc., with terms of a potential deal said to be under discussion.

The report comes from a source who spoke to Bloomberg, who said that the deliberations are ongoing and no agreement has been reached. The source also said there’s no certainty that the companies will move forward with a deal and that there is the possibility that another suitor could emerge.

Reports that Alphabet was talking to HubSpot about a potential acquisition first emerged in April. Reports also suggested that Alphabet had held discussions with Morgan Stanley advisers about any potential antitrust implications regarding the potential acquisition, particularly in light of the antitrust scrutiny given to deals such as Microsoft Corp.’s acquisition of Activision Blizzard.

Launched in 2006, HubSpot’s main offering is a cloud-based platform called Marketing Hub that allows marketers to create ad campaigns, distribute promotional emails to customers and perform related tasks. More recently, HubSpot has also added artificial intelligence features to its platform that automate tasks such as creating web pages.

HubSpot also offers tools for sales teams, including a customer relationship management platform that can be used to store data about current and potential buyers. Another service, called Service Hub, allows customer service departments to manage their day-to-day work.

Notably, a number of HubSpot products work alongside existing Google services, such as Marketing Hub, which allows users to analyze advertising campaign data from Google Ads. The link between Google’s existing advertising and marketing services and HubSpot’s tools is one aspect of what makes HubSpot an attractive acquisition target by Alphabet.

In Bloomberg’s words, “Buying HubSpot, a customer relationship management company that focuses on smaller businesses, would fill a gap that could help Alphabet compete with other players in that market, such as Microsoft Corp., Oracle Corp. and Salesforce Inc.

If it goes through, the deal would also be the largest acquisition in Google and Alphabet’s history. As of the close of trading today, HubSpot had a market cap of $29.98 billion. Google/Alphabet’s previous largest acquisition was the $12.5 billion it paid for Motorola Mobility in 2011.

Photo: HubSpot