Google to buy IoT business of LogMeIn

Google to buy IoT business of LogMeIn

45 Xively employees are expected to join Google, as a part of the takeover, as well.

With the goal of improving enterprise cloud data services for the IoT, Google says it will buy Xively, an IoT PaaS and consulting company, from LogMeIn.

In a move indicating that it is getting more serious about the Internet of Things, Google is acquiring Xively, a Boston company with a platform for managing IoT devices. The acquisition will integrate the extensive features and device management of Xively with Google Cloud's security and scalability, as well as machine learning and data analytics. As such, Google's customers will be "uniquely positioned" to build turnkey IoT solutions, the company said.

With the acquisition, Google intends to use Xively as a catalyst into the rising IoT market, which is estimated to have 20 billion connected devices by 2020.

Earlier this month Alphabet for the first time talked about how much revenue its Google Cloud Platform public cloud and G Suite portfolio of productivity apps bring in - $1 billion per quarter.

"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". "Well, if you mean the IoT connectivity platform space, yes, we're leaving it", said LogMeIn's president and CEO, Bill Wagner in a post on the sale.

The news of another purchase comes days after Samsung's former chief technology officer Injong Rhee said he was joining Google Cloud to lead its Internet of Things operations.

Subject to the closing conditions of the deal, Google said that the acquisition of Xively is going to complement Google Cloud's effort to provide a fully-managed IoT service that "easily and securely connects, manages, and ingests data from globally dispersed devices".

In this regard, earlier this month, on its last earnings call, Google parent Alphabet has disclosed its latest cloud business valuation - its G Suite portfolio of productivity apps and Google Cloud Platform public cloud together bring in around United States dollars 1 billion per quarter.

"The obvious question is, does this mean LogMeIn is exiting the IoT?"

The division booked revenue of $3 million and $13 million of expenses in LogMeIn's 2017 fiscal year.

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