According to CNBC, Antony Passemard, the head of the product management at GoogleCloud, has been quoted saying that through this takeover, Cloud IoT Core would receive an exclusive right over Xively's IoT engineering expertise and advanced product portfolio including device management, dashboard capabilities, and messaging.
Xively will join Google's cloud computing division and is meant to complement its existing efforts to provide businesses with "a fully managed IoT service that easily and securely connects, manages, and ingests data from globally dispersed devices", Google Cloud's Antony Passemard wrote in a blog post.
Google said the plan is to integrate Xively's platform with its Cloud IoT Core offering, which is a fully managed service to easily and securely connect, manage and ingest data from globally dispersed devices that's now available in beta.
For Passemard, the deal will complement Google Cloud's efforts to provide a fully managed IoT service that securely connects, manages, and ingests data from globally dispersed devices.
Google believes that IoT market will reach 20 billion connected things by 2020. As such, Google's customers will be "uniquely positioned" to build turnkey IoT solutions, the company said.
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Alphabet Inc.'s Google has made a series of small acquisitions for its cloud unit, a rival to market leaders Amazon.com Inc. and Microsoft Corp.
The tech giant revealed in a blog post it had entered into an agreement to acquire the LogMeIn subsidiary, which provides an enterprise IoT platform to help accelerate connected products or services.
In what can be touted as an attempt to reinforce its cloud business, Google, this Thursday, has apparently declared its plan of buying the IoT software provider, Xively.
The deal comes just days after it emerged that Google had hired Injong Rhee, who recently resigned as Samsung Electronics' chief technology officer, to lead its IoT business. Xively generated $3 million in revenue previous year, but incurred about $13 million in expenses, Herdiech said during the call.
"That [IoT] platform-as-a-service play for us wasn't going to be part of our go-forward strategy", LogMeIn CEO Bill Wagner said during the conference call.
The division booked revenue of $3 million and $13 million of expenses in LogMeIn's 2017 fiscal year.