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Apigee officially acquired by Google

(Image credit: Image Credit: Ken Wolter / Shutterstock)

Apigee has revealed that it has entered into a definitive agreement to be acquired by Google after last week's news that the search company was planning to acquire it for its cloud based software.

Google will purchase the company for $17.40 per share in cash with the total value of the deal amounting to $625 million. The acquisition will be subject to Apigee stockholder and regulatory approval. Apigee and Google expect the deal to come to a close by the end of 2016.

Diane Greene, SVP of Google's cloud business was eager to welcome Apigee and its employees, saying: “We’re excited about adding Apigee to Google, companies are moving beyond the traditional ways of communicating like phone calls and visits and instead are communicating programmatically through APIs.”

“APIs allow the company’s backend services to talk to the mobile and web-based apps used by their customers and partners. Instead of the doctor phoning a prescription into the pharmacy, they can use an app that talks to the pharmacy through an API. Apigee easily enables this by providing a comprehensive API platform that supports secure, stable, multi-language, dev, test, publish and analytics capabilities.”

Chet Kapoor, Apigee's CEO shared his enthusiasm regarding what the company will be able to accomplish with Google's vast resources: “We've entered a new era of cloud computing, where enterprises are increasingly running business-critical applications in the cloud – and across multiple clouds. Google is the open cloud provider committed to delivering new software for not only hybrid-cloud environments, but also for the multi-cloud world."

“With their history of innovation in web and mobile technologies, we believe Google is the partner for companies embarking on digital transformation. We look forward to being able to accelerate our mission to connect the world through APIs as part of the Google team.”   

Image Credit: Ken Wolter / Shutterstock

Anthony Spadafora
After living and working in South Korea for seven years, Anthony now resides in Houston, Texas where he writes about a variety of technology topics for ITProPortal.