This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

LogMeIn Launches Xively, New Public Cloud For Commercial Internet Of Things Offerings

Stocks in this article: LOGM

BOSTON, May 14, 2013 (GLOBE NEWSWIRE) -- The Innovation District -- LogMeIn, Inc. (Nasdaq:LOGM), today announced it has launched Xively Cloud Services TM , the industry's first public cloud platform purpose-built for developing and managing commercial products on the Internet of Things. The new offering -- formerly known as Cosm in its beta form – is designed to help companies simplify the development of a new generation of connected products that can be quickly deployed on the IoT, easily interact with other connected offerings, and effortlessly scale to billions of devices. As a result, businesses and entrepreneurs can focus on their innovations while significantly reducing the resources, costs and time required to bring new connected offerings to market.

The Xively launch coincides with the announcement that LogMeIn and ARM are collaborating to spur creation of commercial IoT products with the Xively Jumpstart Kit, released today.

"We're seeing tremendous interest in the Internet of Things from businesses across the board. While there are virtually unlimited ideas for connected products, the one thing they all have in common is the need for a secure, reliable infrastructure that enables interconnectivity and scale. Building this infrastructure would not only be difficult, expensive and time-consuming for businesses, it would also distract them from their main purpose—creating compelling connected products. This presents a great opportunity for vendors that can offer such a proven IoT infrastructure," said Sam Lucero, Senior Principal Analyst, M2M and Connected Devices at IHS.

The IoT market, which is predicted to generate between $1.2 trillion 1 and $14.4 trillion 2 in revenue and represent over one trillion connected objects by 2020 3 , has captured the imagination of businesses and consumers around the world.

"We believe that the Internet of Things has the potential to be even more transformative than the Web and mobile Internet before it. And the goal of Xively is to change how businesses view and potentially capitalize on the IoT opportunity – in short, to make the promise of the IoT a near-term reality," said Michael Simon, CEO of LogMeIn. "Whether you're an entrepreneur trying to build the next Nest-like device, an established manufacturer looking to differentiate through connected experiences, or a service provider looking to bring new connected services to market, Xively is designed to reduce the friction and accelerate time-to-market for companies of all sizes."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs