Last month saw Google parent Alphabet announce the purchase of IoT platform Xively from LogMeIn.
On 15 February Alphabet Inc. announced that it was buying the Xively IoT platform from LogMeIn for $50 million. Xively, which helps companies create connected devices, has a handful of hardware partners that offer pre-certified integrations, thus accelerating the development process, as reported by the website Madison.com.
Google’s fast-growing cloud platform already features a number of IoT offerings and services that help businesses develop connected devices and make use of data. Its Cloud IoT Core, announced at a conference in 2017 and currently in public beta, allows customers to use their own security certificates and HTTP to connect existing IoT devices.
A broader Google IoT offering
With the acquisition of Xively, which generated $3 million in revenue last quarter, Google can now complete its range of services, as Google Cloud product manager Antony Passemard explained: “Cloud IoT Core will gain deep IoT technology and engineering expertise, including Xively’s advanced device management, messaging, and dashboard capabilities.”
As part of the transaction, 45 Xively employees will be joining Google. According to LogMeIn CEO Bill Wagner, his company will now be able to better focus on its core markets.
Cloud market heats up
Google are not the only ones focusing on the cloud, with Amazon and Microsoft also investing heavily. The e-commerce giant announced a host of new IoT services at its Amazon Web Services (AWS) re:Invent conference last November. AWS brought in $5.1 billion in revenue and $3.7 billion in operating income during the fourth quarter, making it Amazon’s most profitable business by far.
As for Microsoft, its Azure Event Grid, unveiled in August 2017, has been available since last month. Azure revenue jumped 98% last quarter. By way of comparison, Google said it generated $1 billion in cloud revenue in the same period. According to market researcher Canalys, the cloud boom is continuing apace, with the market growing 45% in 2017. AWS leads the way with 32% market share, followed by Microsoft with 14% and Google with 8%.
Contact Allianz Partners
Jan 15, 2018
According to a report published by the European Patent Office last December, requests for patents in the field of the Internet of Things rose significantly in Europe across 2016.
Dec 2, 2017
According to the International Data Corporation, expenditure on Cloud infrastructure should reach 40.1 billion dollars this year, before expanding to 266 billion dollars by 2021.