Written by David Marshall
Google has announced that it has entered into an agreement to acquire Xively, a division of LogMeIn, Inc. for $50 million.
To better set the stage for the growing market landscape, the company said by 2020, it's estimated that about 20 billion connected things will come online, and analytics and data storage in the cloud are now the cornerstone of any successful IoT solution.
Google stated the deal will "complement" its Google Cloud efforts to provide a fully managed IoT service that easily and securely connects, manages, and ingests data from globally dispersed devices. Adding, "With the addition of Xively's robust, enterprise-ready IoT platform, we can accelerate our customers' timeline from IoT vision to product, as they look to build their connected business."