Google: US technology giant to invest $740m in Australia

Sydney: Google has announced that it will invest A$1bn ($740m, £550m) in Australia over the next five years.

The development came ten months, it had threatened to pull Search out of Australia and it would be the US technology giant’s largest investment in the country to date.

“Money shall be used to build a research hub, increase its cloud computing capacity and fund partnerships with local organisations,” Google said in a statement.

The move – named the Digital Future Initiative – is expected to directly create 6,000 jobs and support 28,000 overall.