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"I am not a believer in small acquisitions," he said.
Some of the biggest emerging-market banks are experimenting with small acquisitions in their "near abroad".
But Wiley has quietly grown through a number of small acquisitions.
Mr. Barrett has eliminated 172 branches to reduce costs and has made several small acquisitions.
Since it went public, U.P.S. has made a number of small acquisitions.
Moreover, management has been buying back stock aggressively, increasing dividends and making small acquisitions.
The company has tended to favour small acquisitions of highly focussed teams of developers and designers.
Mr. Schmidt reminded the reporters on Thursday that the company specializes in small acquisitions that are largely made for talent.
For its part, Google made many small acquisitions but professed not to be interested in big ones.
Trade in these commodities is highly competitive.Of late both Glencore and Xstrata have favoured fairly small acquisitions.
SAP, the industry leader, has grown organically, making only small acquisitions here and there to fill gaps.
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