Google has announced its intent to acquire LogMeIn’s Xively Internet of Things (IoT) platform. This will provide Google Cloud an established IoT platform to add to its portfolio.
Post-acquisition, Google is eyeing the IoT market which is expected to reach 20 billion connected things by 2020.
Xively helps companies to connect, remotely manage, and send data from devices. LogMeIn had acquired Xively in 2014 for $12 million. And now, the Google has informed that the acquisition is subject to customary closing conditions.
Announcing the acquisition, Google writes in a blog, “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.”
Xively’s IoT cloud platform lets you profit more quickly from the Internet of Things. Fast connectivity and infinite scalability ensure that you can easily process the large volumes of data from your connected products. Its management tools allow you to quickly provision, monitor and update products while managing users more easily.
On the other hand, in a blog post, LogMeIn, shared that it is leaving the IoT connectivity platform space, and instead, will invest in its Support-of-Things initiatives for products like LogMeIn Rescue, Bold360, GoToAssist, Central, Rescue Lens, and SeeIt. It said, “We believe that Google Cloud, now armed with Xively’s team and great technology – and backed by their platform and developer heritage and reach – are a far better fit for the future of platform leadership.”
When it comes to Google, the acquisition of an established platform is expected to provide a boost to its cloud business in IoT. As per a Canalys report, Google, with at 85 percent growth, holds a second position in the cloud infrastructure market, preceded only by Microsoft, with 98 percent growth. Read more…