Google has announced that it has entered into an agreement to acquire Xively, a division of LogMeIn, Inc. The purchase will, per the company, complement its efforts to provide a fully managed IoT service “that easily and securely connects, manages, and ingests data from globally dispersed devices.” According to TechCrunch, Google will buy Xively for $50 million.
In a blog post, Google elaborated on why this deal is important for the company:
“By 2020, it’s estimated that about 20 billion connected things will come online, and analytics and data storage in the cloud are now the cornerstone of any successful IoT solution … With the addition of Xively’s robust, enterprise-ready IoT platform, we can accelerate our customers’ timeline from IoT vision to product, as they look to build their connected business.”
In exchange for the $50 million, Google’s Cloud IoT Core will gain “deep IoT technology” and engineering expertise, including Xively’s device management, messaging and dashboard capabilities which Google describes as “advanced”. For its part, LogMeIn said that it was a difficult decision to part with the “extremely talented employees, great customers, and an innovate future leaning product platform”.
In a statement, LogMeIn said:
“We are very happy for our team and our customers, and we want to extend our deepest appreciation for helping us define the next wave of connectivity. We will continue to cheer you and Google Cloud on as fellow pioneers in the IoT space.”
Google says it will provide more details after the deal is closed.