Google has agreed to acquire Apigee Corp for an estimated $625 million, which equates to a price of about $17.40 per share. The companies expect the deal to be completed by the end of the year.
The San Jose-based software company primarily manages application programming interfaces (APIs) and their integration into digital business models. APIs are used to facilitate the integration of software components with each other and Apigee's solutions involve accelerating and streamlining this process.
Diane Greene, senior vice president of Google's cloud business, stated, "The addition of Apigee’s API solutions to Google cloud will accelerate our customers’ move to supporting their businesses with high quality digital interactions."
Some of Apigee's current clients include Walgreens, AT&T and Bechtel, while they also partner with Amazon to manage Amazon Web Service (AWS)-powered backends. Real-world applications enabled by Apogee at Walgreens include the Photo Prints API, which allows users to print photos at any Walgreens store and the Prescription API, which allows users to easily refill prescriptions from a mobile app.
Chet Kapoor, CEO of Apigee, said in a press release, “We've entered a new era of cloud computing, where enterprises are increasingly running business-critical applications in the cloud – and across multiple clouds." Kapoor continued, “With their history of innovation in web and mobile technologies, we believe Google is the partner for companies embarking on digital transformation."
This move comes after Dell's acquisition of EMC Corporation completed this past week, which was originally announced last October. This deal included the addition of Pivotal, which also focuses on delivering digital and streamlined business software solutions.