Google Acquires API company Apigee® for $625 million

Google just went on a $625 million shopping spree.

Application programming interface (API)  company Apigee® (NASDAQ:APIC) announced a definitive agreement on Thursday, under which Google will acquire Apigee® for $625 million in cash, or $17.40 per share.
Apigee® helps businesses go digital. The company’s mission is make every business a digital business by using APIs to serve customers in real time to improve customer experience and drive additional revenue. Apigee’s impressive roster of clients include Walgreens, Ticketmaster, AT&T, Vodafone and Sears, just to name a few.
Apigee® went public back in April 24, 2015 at $17 per share.

In her blog post, Google Senior Vice President Diane Greene said that the acquisition provides a huge market opportunity for Google, as companies in the US alone will spend almost $3 billion on API management by 2020. She also said that, “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.”
Greene further adds that Google cloud customers will be able to benefit from Apigee®’s secure and scalable API management platform.
Meanwhile, Apigee® CEO Chet Kapoor stated in his blog post that, “We can’t wait to see how much better and faster we can be with Google. We’re excited to accelerate our journey to connect the world through APIs as part of the Google team.”
Apigee is already up by 6.92 percent at US$17.47 per share as of 10am EST.
 
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Securities Disclosure: I, Pia Rivera, hold no direct investment interest in any company mentioned in this article.