Google acquires Apigee (API platforms)
Companies in Relationship
Initial Announcement Date:
Consideration: $625 million
Google will acquire Apigee, a company that enables Application Programming Interfaces (APIs), which serve as connective tissue for digital communication between companies and their partners and customers. Google will pay $17.40 a share, reflecting a modest 6.5% premium. Apigee shares have more than doubled in 2016 after falling from its 2015 IPO price of $17/share, an amount almost identical to Google's offer.
Google is buying Apigee in a move to enhance its offerings to corporate customers. Google is endeavoring to make enterprise-cloud business a major revenue driver as it plans to expand beyond advertising as a revenue source.
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