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Google to buy IoT platfrom

Alphabet Inc. unit Google Inc. agreed to buy LogMeIn Inc. unit Xively, an internet of things platform, according to a Feb. 15 company post.

While financial terms of the deal were not disclosed, TechCrunch.com reported the deal price to be $50 million.

The acquisition, which is subject to closing conditions, will help Google Cloud offer a fully managed IoT service.