Google yesterday announced intentions to acquire Xively from LogMeIn for $50 million. The move aims to provide a completely managed IoT service, complementing Google Cloud’s efforts, to safely link, manage and ingest data from devices dispersed across the globe.
With the acquisition, Google intends to use Xively as a catalyst into the rising IoT market, which is estimated to have 20 billion connected devices by 2020.
Google currently provides IoT services through its Cloud IoT Core that runs on serverless infrastructure, and automatically scales in response to real-time changes.
Xively provides enterprise-grade IoT which includes advanced device management, messaging, and dashboard capabilities. The acquisition will integrate the extensive features and device management of Xively with Google Cloud’s security and scalability, as well as machine learning and data analytics. Around 45 employees of Xively will now join Google.
“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,” wrote Antony Passemard, Product Manager, IoT and Pub/Sub, Google Cloud in a blog post.
As of LogMeIn, they announced that they’re exiting the IoT space. “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,” wrote Bill Wagner, President and CEO of LogMeIn, in an acknowledgement post.
LogMeIn had acquired Xively in May 2014, for only $12 million.
Earlier this week, Google announced the beta version of Cloud tensor processing units (TPUs) on Google Cloud Platform. The Cloud TPUs help experts in machine learning (ML) to swiftly train and run their models.