API Shopper: Google Buys Apigee for $625m

Apigee_signGoogle has acquired API (Application Programming Interface) management firm Apigee for $625m (£470m).

“APIs – the mechanism developers use to interface and integrate with outside apps and services – are vital for how business gets done today in the fast-growing digital and mobile marketplace,” said Diane Greene, SVP of Google Cloud Enterprise of the acquisition. “Theyre the hubs through which companies, partners and customers interact, whether its a small business applying online for a loan or a point of sale system sending your warranty information to the manufacturer.”

Apigee, which went public last April, reported revenues of $23.5m and losses of $9.9m for Q3 2016.

The companys existing clients include Walgreens, AT&T, Burberry and Live Nation.

As part of Google, Apigee “will accelerate our customers’ move to supporting their businesses with high quality digital interactions,” according to Greene. “Apigee will make it much easier for the requisite APIs to be implemented and published with excellence.”