Google CEO Eric Schmidt is back in the news predicting a resurgence in M&A activity for the search giant now that the worst of the recession is over. Speaking in Pittsburgh ahead of the G20 Summit, Schmidt told Reuters that Google could buy one small company a month.

Schmidt made some similar remarks last month, which prompted TechFlash to single out five Seattle area companies that Google could buy.

None of those have yet come to pass, but given Google's presence in the Seattle area (and its new appetite for deals) the search giant may be knocking on the doors of some of these firms.

Here's what Schmidt had to say today in Pittsburgh:

"Acquisitions are turned on again at Google and we are doing our normal maneuvers, which is small companies, Schmidt told Reuters. "My estimate would be one-a-month acquisitions and these are largely in lieu of hiring."

Last month, Google purchased On2 Technologies for $106.5 million and earlier this month it gobbled up reCAPTCHA.

Interestingly, Microsoft yesterday purchased the assets of Interactive Supercomputing. But other than that, the software giant has been relatively quiet on the M&A front.

Could Microsoft's M&A pace accelerate too as it looks to keep Google in its sights?

There are certainly a lot of VCs and entrepreneurs who hope so.