Square has reportedly talked with several tech giants about a possible buyout, though all parties concerned have denied that such talks are taking place. Online reports say that Square has had informal talks with the likes of Google, PayPal, and even Apple, and that talks recently resumed with Google.
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Of all potential suitors, Google makes the most sense. The company has Google Wallet, which in many ways is a Square competitor, but few merchants have signed on. Marrying Square's infrastructure with Google Wallet's goal—which is to add everything you buy to the company's vast, vast profile on you—makes a lot of sense for Google.