Google has reached an agreement to acquire Xively, which is an internet of things platform currently owned by LogMeIn.
The amount Google will pay is reported by TechCrunch.com to be $50 million.
Google apparently wants to integrate Xively into its cloud platform, in order to offer developers more options when building security, analytics and machine learning applications.
On its blog post, Google cites statistics by Gartner that forecasts 20 billion “things” – meaning devices, gadgets and other electronics things – will be connected to the internet by 2020.
This means that “analytics and data storage in the cloud are now the cornerstone of any successful IoT solution”, according to Google.
Google says the Xively acquisition will complement its efforts to build a “fully managed IoT service” that more easily and securely connects, manages, and ingests data from globally dispersed devices”.
Xively’s platform is said to be robust and enterprise-ready IoT, which means Google can offer it to customers immediately for them to use in their IoT projects.
The specific part of the Google Cloud Platform into which Xively will fit in is Cloud IoT Core.
Google says it will gain more knowledge and deeper understanding of IoT technology and engineering expertise, through acquiring Xively because it has an advanced device management, messaging, and dashboard capabilities
“Our customers will benefit from Xively’s extensive feature set and flexible device management platform, paired with the security and scale of Google Cloud,” says Google.
This is the second deal or partnership in recent weeks which is aimed at strengthening the Google Cloud Platform.
A couple of weeks ago, Google announced a partnership with MobileIron, which is aimed at making GCP more widely available to enterprise app developers.
Google says its cloud platform is underestimated by analysts who place Amazon at the lead, with a greater cloud market share than the next several companies combined, with Google somewhere way behind.
Google, however, says it has been generating $1 billion per quarter through its cloud operation, and its market position should be higher.