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Google inks Acquisition Deal to buy Xively IoT for US$50 Mn

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Published on : Feb 16, 2018

The internet of things (IoT) space is witnessing giant strides, with massively rising data analytics and storage on the cloud playing a vital role in turnkey business platforms and services. The industry spending on developing next-generation IoT platforms is driven in large part by numerous acquisitions by technology behemoths. With an aim to fortify its position in fully managed IoT services market, Google LLC is expanding its product portfolio and adding enterprise-ready IoT platforms. To this end, the American technology giant announced on February 15, 2018 that it has inked an agreement to buy Xively, a division of LogMeIn, Inc., a globally prominent public company engaged in offering remote access and collaboration products. The acquisition valued at $50 million will materialize once the closing conditions are fulfilled.

With this acquisition, Google intends to strengthen its might in the IoT space and will bolster its cloud computing platform by offering managed IoT services. These services will enable customers to manage vast volumes of data from across tens of thousands of connected devices dispersed globally. In addition, customers will get access to tools to build modern IoT applications using its cloud platform.

Robust, Enterprise-Ready IoT Platform of Xively to help Google cement Position in Cloud Market   

Xively, with its enterprise-ready IoT platform, will enable Google to expand the capabilities of its customers to fuel their connected business. In particular, the acquisition will help Cloud IoT Core, Google’s fully managed service, to cement its expertise with the advanced features that includes flexible device management and advanced dashboard capabilities and messaging. Aligning these features with the massive scale and security of cloud, Google offers the potential to its customers to build turnkey solutions.

LogMeIn likely to Exit IoT Space

The robust platform by Xively, coupled with its vast engineering talent, will enable Google to increase its clout in the cloud business, led by stalwarts such as AWS and Microsoft. The technology behemoth already boasted recently that the revenue from its combined cloud business had crossed $1 Bn a quarter last year.

Meanwhile LogMeIn with this announcement by Google has hinted that it is exiting IoT connectivity platform space. Of note, the company announced last week that it is considering buying Jive Communications for a total of US $357M in a move to gain a foothold in the enterprise unified communication market. 

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