Google set to acquire Apigee Corp for $625 million
Posted on: 09/Sep/2016 4:09:19 PM
For a cost of $625 million, Google is set to acquire Apigee Corp, a cloud software company. This is the search engine giant’s effort to stand high in lucrative cloud business.
What Apigee does is it provides software to aid digital service companies in interacting with mobile apps that are used by partners and customers.
This is a very key move in business transitioning to cloud, according to Diane Greene who handles cloud division of Google. They are leading in application programming interface, he added. The concept of cloud computing is to store, manage and access data via remote internet servers.
Apigee is an outperformer in Application Programming Interface or API. It serves as a pathway for the digital services at times of logging a purchase or placing orders. For every single share of Apigee, Google will pay out $17.40; this accounts to 6 percent premium to the stock. In the noon on Thursday, Apigee shares were quite higher than offer price and remained at $17.43.
Greene who was with VMware as CEO has joined Google last year. She has largely forwarded Google’s profile in corporate computing. During her period, many engineering efforts were streamlined and has taken efforts to be leaders in cloud.
