Alphabet
Inc's Google said on Thursday it is acquiring cloud software company Apigee
Corp in a deal valued at about $625 million, the tech giant’s latest effort to
claim a greater share of the lucrative cloud business, according to reuters.com
report.
San
Jose-based Apigee's software helps companies' digital services interact with
apps used by customers and partners.
The
service is critical for businesses transitioning to the cloud, Diane Greene,
who runs Google's cloud computing division, said in an interview. "They
are a leader in this application programming interface area," she said.
Cloud
computing is the increasingly popular practise of using remote internet servers
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
will pay Apigee shareholders $17.40 for each share, a 6.5 percent premium to
the