Google is stepping up its Internet of Things (IoT) game as it has entered into an agreement to acquire Xively, a division of LogMeIn, Inc.
The Xively IoT platform can “help companies in any industry profit from the IoT” and claims to provide “everything needed to build and launch a connected product in months, not years.” It also provides one-click integrations with business tools such as Salesforce.
Formerly known as Cosm and Pachube, LogMeIn acquired Xively in 2011 for approximately $11 million, and will be selling it to Google in a $50 million deal.
Built on LogMeIn’s foundation of security, Xively’s IoT platform is enterprise-ready and is expected to help Google accelerate its customers’ production time when building IoT connected businesses.
“By 2020, it’s estimated that about 20 billion connected things will come online, and analytics and data storage in the cloud are now the cornerstone of any successful IoT solution,” Google says.
The Internet giant is already working on providing a fully managed IoT service via Google Cloud, and the acquisition, which is subject to closing conditions, is expected to complement that.
The resulting product, Google says, would easily and securely connect, manage, and ingest “data from globally dispersed devices.” The platform will pair with the security and scale of Google Cloud, which already provides data analytics and machine learning capabilities to customers.
“Through this acquisition, Cloud IoT Core will gain deep IoT technology and engineering expertise, including Xively’s advanced device management, messaging, and dashboard capabilities. Our customers will benefit from Xively’s extensive feature set and flexible device management platform,” Google says.
While they will continue to invest in their Support-of-Things initiatives, by selling Xively, LogMeIn is exiting the IoT connectivity platform space.
“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,” Bill Wagner, President and CEO, LogMeIn, notes in a blog post.