Google to acquire cloud player Apigee for $625 mn

Apigee today announced that it has entered into a definitive agreement under which Google will acquire cloud company Apigee for $17.40 per share in cash, for a total value of approximately $625 million.

The transaction is subject to the satisfaction of customary closing conditions, including Apigee stockholder approval and applicable regulatory approvals. The companies expect the transaction to close by the end of 2016.

"We're excited about adding Apigee to Google," said Diane Greene, SVP of Google's cloud businesses.

"Companies are moving beyond the traditional ways of communicating like phone calls and visits and instead are communicating programmatically through APIs. APIs allow the company's backend services to talk to the mobile and web-based apps used by their customers and partners. Instead of the doctor phoning a prescription into the pharmacy, they can use an app that talks to the pharmacy through an API. Apigee easily enables this by providing a comprehensive API platform that supports secure, stable, multi-language, dev, test, publish and analytics capabilities," added Greene.

Chet Kapoor, CEO, Apigee said, "We've entered a new era of cloud computing, where enterprises are increasingly running business-critical applications in the cloud - and across multiple clouds. Google is the open cloud provider committed to delivering new software for not only hybrid-cloud environments, but also for the multi-cloud world."

Kapoor continued, "With their history of innovation in web and mobile technologies, we believe Google is the partner for companies embarking on digital transformation. We look forward to being able to accelerate our mission to connect the world through APIs as part of the Google team."

Apigee provides a leading API platform to the world's largest organizations to enable their digital business. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data.