Google is betting big on the Internet of Things (IoT) with plans to acquire Xively, a division of LogMeIn, Inc., for $50 million.
Garner estimates that about 20 billion connected things will come online, and in order for the market to be successful, analytics and data storage in the cloud will be of paramount important to the ecosystem. Google says this acquisition will complement Google Cloud’s effort to provide a fully managed IoT service that can securely connect, manage and ingest date from global devices.
Google says using Xively’s enterprise-ready IoT platform will help accelerate its customers’ timeline from IoT vision to product, as they look to build connected business.
Under terms of the agreement, Google will gain Xively’s engineering expertise and technology, including advanced device management, messaging and dashboard capabilities. Google will pair this technology with the Google Cloud for a flexible device-management platform that will provide data analytics and machine learning for the building of IoT solutions and focus on business value creation.
LogMeIn says that as a result of the acquisition, it is exiting the IoT connectivity platform space but will continue to invest in its Support-of-Things initiatives for its products such as LogMeIn Rescue, Bold360, GoToAssist, Central, Rescue Lens and Seeit. These products help to support new types of connected products as well as support consumers.