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."