Google To Buy Apigee For $625 Million To Expand Enterprise

An anonymous reader shares a Bloomberg report:Google is buying software development toolmaker Apigee for $625 million, the latest move by the search giant to bulk up its cloud-based offerings for businesses. Alphabet Inc.'s Google has agreed to pay $17.40 a share in cash, San Jose, California-based Apigee said in a statement Thursday. That's a 6.5 percent premium to Apigee's closing price Wednesday. The companies expect the deal to be completed by the end of the year. Apigee sells a platform that aids companies in managing their APIs, which are programming tools that help developers build software that talks to each other and shares information without revealing the underlying code. APIs have become an integral part of cloud software development, allowing one application to pull data and use services from multiple other programs. "The addition of Apigee's API solutions to Google cloud will accelerate our customers' move to supporting their businesses with high quality digital interactions,â Diane Greene, senior vice president of Google's cloud business, said in a blog post, referring to application program interface products.

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