February 19, 2018

Google acquires LogMeIn’s Xively for USD 50M

The acquisition seeks to reduce time-to-create products for enterprises leveraging Xively’s IoT platform.

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Tech mogul Google have acquired cloud-based SaaS provider LogMeIn’s IoT platform Xively for USD 50M. With this acquisition, Google aims to reduce the time taken to bring products to fruition for their IoT clients by leveraging Xively’s ready-to-use platform.

Google say that acquiring Xively will complement their cloud portfolio. They further added that with data storage and analytics as their key strengths, they will be able to reduce the time taken by enterprises to build IoT products considerably.

Explaining this, a spokesperson for Google confirmed:

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.

LogMeIn say that this acquisition will see them exiting the IoT space. Speaking about this in detail, a spokesperson for LogMeIn revealed:

So the obvious question is, does this mean LogMeIn is exiting the IoT? Well, if you mean the IoT connectivity platform space, yes, we’re leaving it.

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.

Both parties confirmed that the acquisition is subject to regulations and custom closing conditions.

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