(Adds details, shares, background)
Sept 8 Alphabet Inc's Google is
acquiring software developer Apigee Corp in a deal
valued at about $625 million, as it strengthens its cloud
San Jose-based Apigee's software helps a company's backend
services interact with mobile and web-based apps used by
customers and partners.
"Companies are moving beyond the traditional ways of
communicating like phone calls and visits and instead are
communicating programmatically through APIs (Application
Programming Interface)," said Dianne Greene, who runs Google's
cloud computing division.
Google will pay Apigee shareholders $17.40 for each share
held, a 6.5 percent premium to the stock's Wednesday close.
Apigee's shares were trading above the offer price at $17.45
on Thursday morning.
The company, whose customers include AT&T, Burberry
Group Plc, Vodafone Group Plc and the World
Bank, went public in April last year at $17 per share.
This is the latest from the highly regarded enterprise
computing executive Greene, who is pushing to make Google a
central player in corporate computing.
The Apigee deal comes a day after Google and online storage
company Box Inc said they would partner to enable Box's
corporate customers to integrate Google's suite of word
processing, spreadsheets and other productivity tools, known as
Companies including Google, Amazon.com Inc,
Microsoft Corp, IBM Corp are competing for a
share of the fast-growing corporate cloud computing business.
(Reporting by Natalie Grover in Bengaluru; Editing by Sriraj