Google for $ 50 million buys a developer company for the Internet of things

By: Elena Shcherban | 17.02.2018, 13:24
Google for $ 50 million buys a developer company for the Internet of things

Google is going to buy Xively   - a division of LogMeIn, which deals with software for Internet devices of things ( Internet-of-Things )

What is Xively

Xively has been developing and   sells services and   software for controlling IoT devices, such as smoke detectors and   water heaters. Behind   The last quarter the company earned $ 3   million.

Deal Details

While no official statements have been made   it was, but   It is known that Google will pay for   Xively $ 50   million. Sign the documents and   settle all formalities must up to   end of March, after which the entire staff Xively (and   this is 45 people) will work in   parent company.

What is it for?

It seems that Google is seriously engaged in strengthening its cloud division and   increase production in   sphere of the Internet of things, not   regretting   this money.   By   projected, already to   2020 IoT will have about 20   billion devices.

By the way, recently in   Google moved to Samsung CEO Injong Rhee (Injong Rhee). On   a new workplace he   will just be engaged in projects related to   Internet of things.

We recall that   LogMeIn a few years ago joined the team of the popular password management service LastPass, but   they repeatedly had serious problems with   data leakage.

Source: Bloomberg