Google Plans To Acquire LogMeIn's Xively IoT Platform For $50M

Google is betting big on the Internet of Things by planning acquire LogMeIn's Xively platform for $50 million, giving the search giant a mature IoT platform.

Google Cloud will leverage Xively's enterprise IoT platform to accelerate customers' timeline from IoT vision to product, said Antony Passemard, product management lead, Google Cloud Platform.

"Through this acquisition, [Google's] Cloud IoT Core will gain deep IoT technology and engineering expertise, including Xively’s advanced device management, messaging and dashboard capabilities," said Passemard in a blog post on Friday. "Our customers will benefit from Xively’s extensive feature set and flexible device management platform, paired with the security and scale of Google Cloud."

[Related: LogMeIn To Buy Jive Communications For $342M For Enterprise Channel And UC Portfolio]

Cloud IoT Core is the company's' fully managed service offering to securely connect, manage and ingest data from globally dispersed devices.

Xively has been selling its IoT Platform for years, which includes management and interactive design tools including the Xively ProductLauncher, named one of the 10 Coolest IoT Products of 2016 by CRN. Approximately 45 Xivley employees will join Google.

"We believe that Google Cloud, now armed with Xively’s team and great technology – and backed by their platform and developer heritage and reach – are a far better fit for the future of platform leadership," said Bill Wagner, president and CEO of LogMeIn, in a blog post on Friday.

Boston-based LogMeIn recently acquired Jive Communicators for $342 million in a move to expand the videoconferencing specialist's unified communications and collaboration strategy.