Google to buy software developer Apigee in US$625m deal

[SAN FRANSCISCO] Alphabet Inc's Google is acquiring software developer Apigee Corp in a deal valued at about US$625 million in cash.

Google will pay Apigee shareholders US$17.40 for each share held, a 6.5 per cent premium to the stock's Wednesday close.

Apigee went public in April last year at US$17 per share.

Apigee has an API platform, which allows a company's backend services to talk to mobile and web-based apps used by their customers and partners.

REUTERS