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Fast Money

What might be on Google's shopping list: Ironfire's Eric Jackson

Google on verge of $30 billion shopping spree?

Music and messaging companies may make the most sense for Google as it gets ready to go on a potential global buying spree.

In a letter to the Securities and Exchange Commission, the Internet giant said it'll need as much as $30 billion of overseas profits to help pay for acquisitions.

Eric Jackson, managing director and founder of investment management firm Ironfire Capital, told CNBC's "Fast Money" on Wednesday that Google has shown it's willing to go out and get aggressive on making deals.

One spot that would make sense for Google is music streaming service Spotify, Jackson noted.

"I'm sure Spotify is lining itself up for an IPO later this year, markets permitting, " Jackson said. "Often, right before an IPO prices though there is sort of a last chance where people like Google get a chance to come in and make an offer. So, I think that's an area that would make sense for them."

Jackson, who does not own shares of Google, speculates that the search giant could consider taking a stake in a Chinese company like Baidu or a look for a deal in Japan's messaging space.

Google stock rose 1.73 percent Wednesday to close at $538.94.