Google out for shopping – buys Apigee for $625 million read more at here www.spinonews.com/index.php/item/809-google-out-for-shopping-buys-apigee-for-625-million

Google on Thursday showed its intentions to grab a bigger bite in lucrative cloud business by announcing the buyout of cloud software company Apigee Corp. in a deal closed at about $625 million.   

Apigee, a San Jose based company provides software to companies to intermingle their digital services with the apps used by the customers and partners. 

The company is a leader in this application programming interface area and this service is quite crucial for businesses transitioning to the cloud.

In the recent past the acceptability and popularity of cloud computing has increased manifold to store, manage and process data.

Apigee specializes in managing so-called application programming interfaces, or APIs, the channels through which digital services connect when a company logs a purchase for a customer or places an order with a supplier.

Google has agreed to offer a price of $17.40 per share to Apigee shareholders. This offer has been made at a premium of 6.5% on stocks Wednesday closing value. On Thursday this share was traded at $17.43 at Nasdaq.

Apigee had gone public in April last year at $17 per share. AT&T, Burberry Group Plc., Vodafone Group Plc. and the World Bank are few of the prominent customers of the company. Google is working hard on adding to its corporate computing profile.