Apigee Corp. (APIC) to be Acquired by Google in $625M Deal
- Wall St. lower as earnings from some big names disappoint
- Unusual 11 Mid-Day Movers 10/25: (CWEI) (NXTD) (EYES) Higher; (DPRX) (CRBP) (CALA) Lower (more...)
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Apigee® (NASDAQ: APIC), the API company, today announced that it has entered into a definitive agreement under which Google will acquire Apigee for $17.40 per share in cash, for a total value of approximately $625 million. The transaction is subject to the satisfaction of customary closing conditions, including Apigee stockholder approval and applicable regulatory approvals. The companies expect the transaction to close by the end of 2016.
“We’re excited about adding Apigee to Google,” said Diane Greene, SVP of Google’s cloud businesses. “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 CEO said: “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.” Kapoor continued, “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.”
A blogpost from Diane Greene, Senior Vice President of Google’s cloud businesses is available here.
A blogpost from Apigee CEO Chet Kapoor and an FAQ is available here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Barrick Gold (ABX) Gains; Chinese Miners Said in Talks for Stake in Veladero Mine - Reuters
- Access National (ANCX) to Acquire Middleburg Financial (MBRG) in ~$233M Deal
- HNA Group to Acquire 25% Stake in Hilton Worldwide (HLT) from Blackstone (BX)
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Hot M&A, Management Comments, Mergers and Acquisitions, Trader Talk, Trading Halts
Related EntitiesMorningstar, Inc., Twitter, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!