Google has agreed to acquire Apigee, the developer of an API management platform, for USD 625 million. Google offered USD 17.40 per share for the company, a small premium on its last closing price. Apigee's share price is near the level where it listed last year on the stock market, after more than doubling since March this year. Pending approval from Apigee stockholders and regulators, the takeover is expected to close by the end of 2016.
Google said Apigee's products facilitate digital business, helping companies move beyond phone calls and customer visits to communicate with mobile and web-based apps used by their customers and partners. Apigee enables this by providing am API management platform that supports multi-language, development, test, publish and analytics capabilities. Its customers include AT&T, Walgreen's, Swisscom, BBC Worldwide, Orange, Staples, Live Nation, Inmarsat and Fujitsu. They use the platform to manage their APIs provided to partners for integration with mobile app and web platforms.
Google said it will use the API management techniques to support its enterprise cloud customers using products such as Google App Engine and Google Container Engine. They platform will remain available on-premises and in the cloud.