Google Acquires Apigee for $625 Million to Bolster Enterprise Cloud Business
Google is acquiring Apigee, a provider of application programming interface management, for $625 million. The transaction is all-cash and was a 7% premium over Apigee’s stock price at the time.
“APIs — the mechanism developers use to interface and integrate with outside apps and services — are vital for how business gets done today in the fast-growing digital and mobile marketplace,” wrote Diane Greene, Senior Vice President at Google, in a blog post. “The addition of Apigee’s API solutions to Google cloud will accelerate our customers’ move to supporting their businesses with high quality digital interactions. Apigee will make it much easier for the requisite APIs to be implemented and published with excellence.”
Apigee was recently named a leader in the Gartner Magic Quadrant for Application Services Governance and recognized for its “Completeness of Vision.”
Forrester predicts that US companies alone will spend nearly $3 billion on API management by 2020.
Apigee counts Buberry, AT&T, and Walgreens among its clients.