Google has announced that it has entered into an agreement to acquire Xively, a division of LogMeIn, Inc. However, as per ZDNet, the deal, which could strengthen Google's efforts to take on Amazon and Microsoft in the cloud business, is costing Google $50 million. 45 Xively employees are expected to join Google, as a part of the takeover, as well. The way these clouds provide the opportunity of working with data, directly from devices with internet access, has become quite popular these days.
In 2014, LogMeIn acquired Ionia, a Boston-based software integrator that lets companies link internet-connected devices into their sales and planning software systems.
The move will accelerate Google Cloud's move into the IoT market, which it says will reach 20B connected devices by 2020.
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"Through this acquisition, Cloud IoT Core will gain deep IoT technology and engineering expertise, including Xively's advanced device management, messaging, and dashboard capabilities", Antony Passemard, head of product management for IoT and Pub/Sub at Google Cloud, wrote in a blog post.
While the Google purchase of Xively - which remains subject to closing conditions - signals Google's ambitions in the area, it also highlights LogMeIn's loss of appetite for it.
Google now provides IoT services through its Cloud IoT Core that runs on serverless infrastructure, and automatically scales in response to real-time changes. Xively's customers include Halo Smart Labs, Lutron and New England BioLabs.
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In its fourth quarter earnings call, Alphabet disclosed the cloud business was now generating $4bn a year in revenue.
LogMeIn made a decision to sell Xively because an IoT software platform no longer fit into the company's long-term plans, particularly after its $1.8 billion acquisition of Citrix's business collaboration tools in 2016. As for LogMeIn, it said in a blog post 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.
Earlier this week, Injong Rhee, a top Samsung Electronics Co. executive, said he was moving to Google to work on Internet-of-Things services for its cloud business.
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