Google Completes Acquisition of Apigee Corporation

San Jose, Calif. – November 10, 2016 – Apigee Corporation (NASDAQ: APIC) today announced the completion of the previously announced acquisition by Google. Under the terms of the definitive agreement for the acquisition, Apigee stockholders will receive $17.40 per share in cash, for a total value of approximately $625 million. As a result of the completed acquisition, Apigee’s common stock will cease trading on the Nasdaq Global Select Market.

About Apigee

Apigee® (NASDAQ: APIC) provides a leading API platform. Many of the world's largest organizations select Apigee to enable their digital business. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. For more information, go to http://apigee.com. Apigee is a registered trademark in the U.S. All other trademarks mentioned herein are property of their respective owners.

# # #

Press Contact: press@apigee.com

Investor Contact: options@apigee.com

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    Apigee Named a Leader in the Gartner Magic Quadrant for Full Lifecycle API Management

    For the Second Consecutive Year, Apigee Positioned Furthest for Completeness of Vision

    SAN JOSE, Calif. – October 31, 2016 – Apigee® (NASDAQ: APIC) today announced that Gartner, Inc. has named Apigee a Leader in its 2016 Magic Quadrant for Full Lifecycle API Management (1) based on Apigee’s ability to execute and its completeness of vision. According to Gartner, Magic Quadrant Leaders “execute well against their current vision and are well positioned for tomorrow.”(2)

    The Gartner 2016 Magic Quadrant for Full Lifecycle API Management is available at no charge from Apigee here.

    For the second year in a row, Gartner has positioned Apigee furthest in this research for completeness of vision, a criteria that reflects vendors' abilities to understand market trends, to lead and influence them, and to follow these trends with agility and consistency.

    “We are committed to helping businesses everywhere manage APIs anywhere -- with proven, robust and scalable API management,” said Chet Kapoor, Apigee CEO. “APIs are foundational for today’s digital world - they connect products, services and the cloud compute resources that power them. We are extremely proud that once again, Apigee has been recognized by Gartner as a Leader in this space, as well as for being furthest for completeness of vision.”

    A Gartner Magic Quadrant provides a graphical competitive positioning of technology providers in a specific market where market growth is high and provider differentiation is distinct. (3) The Full Lifecycle API Management Magic Quadrant evaluated 19 different software vendors on 15 criteria.

    According to Gartner: "API programs are maturing, and the API economy is growing rapidly, so the need for advanced API management functionality has become more pressing, especially for analytics,

    API monetization, real/business value of APIs, ease of implementation of digital business imperatives, IoT and advanced security (to prevent/defend from malicious attacks to the APIs)."

    Apigee Edge is a comprehensive API management platform that enables businesses to secure, manage, scale and analyze their APIs and API traffic. Apigee’s web-scale and flexible platform processes billions of API calls per week. Apigee Edge is available as a cloud-based software-as-a-service (SaaS) and as on premises software.

    Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

    About Apigee

    Apigee® (NASDAQ: APIC) provides a leading API platform.  Many of the world's largest organizations select Apigee to enable their digital business. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. For more information, go to http://apigee.com.

    Connect with Apigee

    Apigee blog: https://blog.apigee.com/front

    Apigee community: https://community.apigee.com/

    Twitter: https://twitter.com/apigee

    Apigee: https://www.apigee.com/company/apigee

     

    Apigee is a registered trademark in the U.S. All other trademarks mentioned herein are property of their respective owners.

    ###

    Safe Harbor Statement

    This press release contains forward-looking statements, including statements regarding the growth rates of the full life cycle API management market and of the API economy. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to market adoption of digital technologies, unfavorable conditions in our industry or the global economy, reductions in information technology spending, changes in U.S. and international laws and regulations and the impact of intellectual property rights on the market.

    The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Annual Report on Form 10-K filed with the SEC on October 7, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov.

    Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

    Press Contact:

    Matt Bryant

    press@apigee.com

     

    Investor Contact:

    Kevin Faulkner

    kfaulkner@apigee.com

     


    (1) “Magic Quadrant for Full Life Cycle API Management”, October 27, 2016. http://www.gartner.com/document/3488151?ref=TypeAheadSearch&qid=b007a9a25f930d512fdb6beeebb4dcaf

    (2) Gartner Research Methodologies, Gartner Magic Quadrant, http://www.gartner.com/technology/research/methodologies/research_mq.jsp

    (3) Gartner Research Methodologies, Gartner Magic Quadrant, http://www.gartner.com/technology/research/methodologies/research_mq.jsp

     

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      Apigee Corporation Announces Receipt of German and Austrian Regulatory Approvals Under Proposed Acquisition by Google Inc.

      San Jose, Calif. – October 26, 2016 – Apigee Corporation (NASDAQ: APIC) today announced that regulatory clearance of the proposed acquisition of Apigee by Google Inc. was obtained from antitrust authorities in Germany on October 20, 2016.  It also announced that the regulatory waiting period in Austria of the proposed acquisition of Apigee by Google expired on October 22, 2016. As previously announced, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”) for the proposed acquisition was terminated early by the United States Federal Trade Commission on October 12, 2016.

      Apigee previously entered into a definitive Agreement and Plan of Merger dated September 7, 2016, by and among Apigee, Google and Areopagus Inc., a wholly owned subsidiary of Google, under which Google will acquire Apigee for $17.40 per share in cash, subject to the satisfaction of certain closing conditions, including Apigee stockholder approval and applicable regulatory approvals (the “Merger”). Termination of the HSR Act waiting period and clearance by antitrust authorities in Germany and Austria are included among the specified closing conditions for the Merger.

      Apigee is scheduled to hold a special meeting of stockholders on November 8, 2016 to seek adoption and approval of the Agreement and Plan of Merger.

      About Apigee

      Apigee® (NASDAQ: APIC) provides a leading API platform. Many of the world's largest organizations select Apigee to enable their digital business. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. For more information, go to http://apigee.com.

      Apigee is a registered trademark in the U.S. All other trademarks mentioned herein are property of their respective owners.

      Additional Information and Where to Find It

      In connection with the transaction, Apigee has filed relevant materials with the Securities and Exchange Commission (the “SEC”), including a definitive proxy statement on Schedule 14A. Apigee has also caused to be mailed the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the transaction. INVESTORS AND SECURITY HOLDERS OF APIGEE ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT APIGEE WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT APIGEE AND THE TRANSACTION. The definitive proxy statement and other relevant materials in connection with the transaction (when they may become available), and any other documents filed by Apigee with the SEC, may be obtained free of charge at the SEC’s website (http://www.sec.gov) or through the investor relations section of Apigee’s website (http://investors.Apigee.com).

      Participants in the Solicitation

      Apigee and its directors, executive officers and other members of its management and employees may be deemed to be participants in the solicitation of proxies from Apigee’s stockholders with respect to the Merger.  Information about Apigee’s directors and executive officers and their ownership of Apigee’s Common Stock is set forth in Apigee’s annual proxy statement on Schedule 14A filed with the SEC on November 25, 2015 and in Apigee’s definitive proxy statement on Schedule 14A filed with the SEC on October 11, 2016. Stockholders may obtain additional information regarding the direct and indirect interests of the participants in the solicitation of proxies in connection with the Merger, which may be different than those of Apigee stockholders generally, by reading the definitive proxy statement and other relevant documents regarding the merger when they may become available, which will be filed with the SEC.

      Forward-Looking Statements

      This communication contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the proposed transaction and business combination between Google and Apigee, including statements regarding the benefits of the transaction, the anticipated timing of the transaction and the products and markets of each company. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect Apigee’s business and the price of the common stock of Apigee; (ii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Apigee; (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement or prevent the merger from being consummated; (iv) the effect of the announcement or pendency of the transaction on Apigee’s business relationships, operating results, and business generally; (v) risks that the proposed transaction disrupts current plans and operations of Google or Apigee, including disruptions to relationships with customers, licensees, and other business partners of Apigee and potential difficulties in Apigee employee retention as a result of the transaction; (vi) risks related to diverting management’s attention from Apigee’s ongoing business operations; (vii) the outcome of any legal proceedings that may be instituted against Google or against Apigee related to the merger agreement or the transaction; (viii) the ability of Google to successfully integrate Apigee’s operations, product lines, and technology within the expected time-line or at all; (ix) the ability of Google to implement its plans, forecasts, and other expectations with respect to Apigee’s business after the completion of the proposed merger and realize additional opportunities for growth and innovation; (x) the fact that receipt of the all-cash merger consideration will be taxable to stockholders that are treated as U.S. holders for U.S. federal income tax purposes; (xi) the fact that, if the merger is completed, stockholders will forego the opportunity to realize the potential long-term value of the successful execution of Apigee’s current strategy as an independent company and Apigee’s inability to make certain changes to our business pending the completion of the merger, and other restrictions on our ability to conduct our business; (xii) the possibility that Google could, at a later date, engage in unspecified transactions, including restructuring efforts, special dividends or the sale of some or all of Apigee’s assets to one or more as yet unknown purchasers, that could conceivably produce a higher aggregate value than that available to stockholders in the merger; (xiii) the fact that under the terms of the merger agreement, Apigee is unable to solicit other acquisition proposals during the pendency of the merger; (xiv) potential uncertainty in the marketplace, which could lead current and prospective customers to purchase from other vendors or delay purchasing from Apigee; (xv)  the amount of the costs, fees, expenses and charges related to the merger agreement or the merger; (xvi) other developments beyond our control, including, but not limited to, changes in domestic or global economic conditions that may affect the timing or success of the merger; and (xvii) risks that our stock price may decline significantly if the merger is not completed.

      The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in Apigee’s Annual Report on Form 10-K, as amended, filed with the SEC on October 7 and 11, 2016. Apigee’s SEC filings are available on the Investor Relations section of Apigee’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov. While Apigee may elect to update forward-looking statements at some point in the future, Apigee specifically disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, and, therefore, you should not rely on these forward-looking statements as representing Apigee’s views as of any date subsequent to today.

      # # #

      Press Contact:

      press@apigee.com

       

      Investor Contact:

      Kevin Faulkner

      kfaulkner@apigee.com

      (408) 816-1658

       

       

      Share this press release

        Apigee Corporation Announces Early Termination of Hart-Scott-Rodino Waiting Period Under Proposed Acquisition by Google Inc.

        San Jose, Calif. – October 14, 2016 – Apigee Corporation (NASDAQ: APIC) (“Apigee” or the “Company”), the API company, today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), applicable to the proposed acquisition of Apigee by Google, Inc. (“Google”), was terminated early by the United States Federal Trade Commission on October 12, 2016.

        As previously announced, Apigee entered into a definitive Agreement and Plan of Merger dated September 7, 2016, by and among Apigee, Google and Areopagus Inc., a wholly owned subsidiary of Google, under which Google will acquire Apigee for $17.40 per share in cash, subject to the satisfaction of certain closing conditions, including Apigee stockholder approval and applicable regulatory approvals (the “Merger”).  Termination of the HSR Act waiting period is one of the specified conditions to which closing of the proposed acquisition is subject.

        Apigee is scheduled to hold a special meeting of stockholders on November 8, 2016 to consider and act upon the adoption and approval of the Agreement and Plan of Merger.  Additional regulatory approvals are still pending.

        About Apigee

        Apigee® (NASDAQ: APIC) provides a leading API platform. Many of the world's largest organizations select Apigee to enable their digital business. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. For more information, go to http://apigee.com.

        Apigee is a registered trademark in the U.S. All other trademarks mentioned herein are property of their respective owners.

        Additional Information and Where to Find It

        In connection with the transaction, the Company has filed relevant materials with the Securities and Exchange Commission (the “SEC”), including a definitive proxy statement on Schedule 14A. The Company has also caused to be mailed the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the transaction. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT THE COMPANY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE TRANSACTION. The definitive proxy statement and other relevant materials in connection with the transaction (when they may become available), and any other documents filed by the Company with the SEC, may be obtained free of charge at the SEC’s website (http://www.sec.gov) or through the investor relations section of the Company’s website (http://investors.Apigee.com).


        Participants in the Solicitation

        Apigee and its directors, executive officers and other members of its management and employees may be deemed to be participants in the solicitation of proxies from Apigee’s stockholders with respect to the Merger.  Information about Apigee’s directors and executive officers and their ownership of Apigee’s Common Stock is set forth in Apigee’s annual proxy statement on Schedule 14A filed with the SEC on November 25, 2015 and in Apigee’s definitive proxy statement on Schedule 14A filed with the SEC on October 11, 2016. Stockholders may obtain additional regarding the direct and indirect interests of the participants in the solicitation of proxies in connection with the Merger, which may be different than those of Apigee stockholders generally, by reading the definitive proxy statement and other relevant documents regarding the merger when they may become available, which will be filed with the SEC.

        Forward-Looking Statements

        This communication contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the proposed transaction and business combination between Google and Apigee, including statements regarding the benefits of the transaction, the anticipated timing of the transaction and the products and markets of each company. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect Apigee’s business and the price of the common stock of Apigee, (ii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Apigee and the receipt of certain governmental and regulatory approvals, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (iv) the effect of the announcement or pendency of the transaction on Apigee’s business relationships, operating results, and business generally, (v) risks that the proposed transaction disrupts current plans and operations of Google or Apigee, including disruptions to relationships with customers, licensees, and other business partners of Apigee and potential difficulties in Apigee employee retention as a result of the transaction, (vi) risks related to diverting management’s attention from Apigee’s ongoing business operations, (vii) the outcome of any legal proceedings that may be instituted against Google or against Apigee related to the merger agreement or the transaction, (viii) the ability of Google to successfully integrate Apigee’s operations, product lines, and technology within the expected time-line or at all, (ix) the ability of Google to implement its plans, forecasts, and other expectations with respect to Apigee’s business after the completion of the proposed merger and realize additional opportunities for growth and innovation, (x) the fact that receipt of the all-cash merger consideration will be taxable to stockholders that are treated as U.S. holders for U.S. federal income tax purposes; (xi) the fact that, if the merger is completed, stockholders will forego the opportunity to realize the potential long-term value of the successful execution of Apigee’s current strategy as an independent company and Apigee’s inability to make certain changes to our business pending the completion of the merger, and other restrictions on our ability to conduct our business; (xii) the possibility that Google could, at a later date, engage in unspecified transactions, including restructuring efforts, special dividends or the sale of some or all of Apigee’s assets to one or more as yet unknown purchasers, that could conceivably produce a higher aggregate value than that available to stockholders in the merger; (xiii) the fact that under the terms of the merger agreement, Apigee is unable to solicit other acquisition proposals during the pendency of the merger; (xiv) potential uncertainty in the marketplace, which could lead current and prospective customers to purchase from other vendors or delay purchasing from Apigee; (xv)  the amount of the costs, fees, expenses and charges related to the merger agreement or the merger; (xvi) other developments beyond our control, including, but not limited to, changes in domestic or global economic conditions that may affect the timing or success of the merger; (xvii) risks that our stock price may decline significantly if the merger is not completed; and (xviii) risks related to obtaining the requisite consents to the merger, including the timing and receipt of regulatory approvals from various domestic and foreign governmental entities (including any conditions, limitations or restrictions placed on these approvals) and the risk that one or more governmental entities may deny approval.

        The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Annual Report on Form 10-K, as amended, filed with the SEC on October 7 and 11, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov. While Apigee may elect to update forward-looking statements at some point in the future, Apigee specifically disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, and, therefore, you should not rely on these forward-looking statements as representing Apigee’s views as of any date subsequent to today.

         

        # # #

        Press Contact:

        press@apigee.com

         

        Investor Contact:

        Kevin Faulkner

        kfaulkner@apigee.com

        (408) 816-1658

         

         

        Share this press release

          Brazilian Retail Giant’s Growth Fueled by its Digital Transformation, Powered by Apigee

          59-Year-Old Retailer Transitioning to an API-First Company, Leveraging Apigee’s API Management Platform

          San Jose, Calif. and São Paulo, Brazil -- October 13, 2016 -- Apigee, the API company, and Magazine Luiza, one of Brazil’s largest consumer electronics  companies, today revealed that the retailer’s recently announced growth has been fueled by its five-year digital transformation strategy, a strategy powered by APIs and Apigee. Magazine Luiza, which began working with Apigee in 2014 as part of its digital transformation strategy, recently reported a 4.8 percent increase in gross sales, with e-commerce sales rising 33.6 percent and now accounting for 22.5 percent of total sales for the company. The company also achieved 28.9 percent EBITDA growth over the same period last year.

           

          “Magazine Luiza is a great example of Brazilian innovation and ingenuity, and we are proud to be a part of their digital transformation and success,” said Chet Kapoor, Apigee CEO. “We hope that they can serve as a model for other businesses in Brazil and throughout the world who are embracing APIs and digital business.”

          Magazine Luiza sells consumer goods, including household appliances, electronics, furniture, cosmetics, baby care accessories, toys and sports equipment, online and through more than 750 retail stores across the country. The company is leveraging APIs and Apigee as it rebuilds and modernizes its core digital infrastructure, focusing on mobile and e-commerce platforms, logistics, order management and strategic marketplace initiatives.

          Part of the company’s growth is a result of CEO Frederico Trajano and the management team’s strategy to become increasingly more digital, multichannel and closer to customers. Frederico took over in November 2015 with the long-term objective of converting Magazine Luiza into a digital company with physical points of sale, rather than a traditional retailer with a strong digital presence.

          “Retailers must adapt to the changing landscape of digital commerce,” said Trajano. “Amid uncertain economic times, Magazine Luiza made a commitment to digital transformation and chose Apigee as our key technology provider. We believe our commitment to delivering a modern digital experience is paying off with an increase in Magazine Luiza growth and a reduction to our working capital.”

          Digitizing the store experience through APIs has led to operational cost containment and has enabled Magazine Luiza to expand hiring and job training efforts. By the end of the year, the company plans to train all in-store employees to use smartphones as sales tools, and more than half its stores will allow consumers to order goods online and pick them up from a retail location. The company continues to further integrate its online assets with its physical stores in order to provide an advantage over e-commerce-only companies.

          In June, 2016, the company leveraged Apigee software to launch a new digital marketplace, which enables other retailers to sell third-party products through MagazineLuiza.com.br. Through the marketplace, Magazine Luiza is increasing the number of product categories it offers while minimizing inventory risks and delivery costs.

           

          Additionally, the company's Magazine Voce (translating to ‘Magazine You’) platform is helping accelerate digital innovation in retail while providing all Brazilians access to participate in the growing e-commerce market. Magazine Voce enables individuals to sell services and products to customers across the country via new channels, connecting the nation online through APIs and Apigee. Inspiring digital entrepreneurs in Brazil, the social commerce marketplace enables vendors to manage sales, commission reports, incentive programs, email marketing, shipping, and more through Magazine Luiza.

          “Magazine Luiza shows that having leadership with the fortitude to invest in a digital vision, even in tough economic times, can truly pay off,” said John Rethans, global digital strategist at Apigee. “To see this digital transformation take hold and empower individuals across an emerging economy illustrates that APIs and the strategies Apigee helps enable can help prepare companies of many kinds for the future.”

           

          The Apigee Edge platform delivers comprehensive API management capabilities that can empower organizations like Magazine Luiza to securely deliver and manage APIs and API traffic at scale. Apigee Edge includes an API gateway; developer portal; API, app and developer analytics; API monetization features; support for high scale, and more.

          About Apigee

          Apigee® (NASDAQ: APIC) provides a leading API platform. Many of the world's largest organizations select Apigee to enable their digital business. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California.

           

          Connect with Apigee

          Apigee blog: https://blog.apigee.com/front

          Apigee community: https://community.apigee.com/

          Twitter: https://twitter.com/Apigee

          LinkedIn: https://www.linkedin.com/company/apigee

           

          About Magazine Luiza

          Founded in 1957 in the city of Franca, São Paulo, Magazine Luiza is one of the largest furniture and electronic retailers in Brazil. The company operates 787 stores and employs 20,000 people nationwide. In January of 2016, Frederico Trajano took over as company´s CEO. The Board of Directors is chaired by Luiza Helena Trajano, and Marcelo Silva serves as vice president.

           

          Safe Harbor Statement

          This press release contains forward-looking statements, including statements regarding the continued customer adoption and increased usage of Apigee’s products, expected market adoption of digital transformations, potential future customer opportunities and opportunities between Apigee and Magazine Luiza and the potential future impact and benefits to customers of using them. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to market adoption of digital technologies, the ability of Apigee’s software to meet its customers’ needs, the quality of Apigee’s software, support and services and related infrastructure capacity and any incorrect implementation or use of Apigee software.

           

          The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Annual Report on Form 10-K filed with the SEC on October 7, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov.

          Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

           

          Apigee Media Contact:

           

          Lyla Rayyan

          press@apigee.com

          415-275-6249

           

          Apigee Media Contact:

          Kevin Faulkner

          ir@apigee.com

          408-816-1658


           

          Share this press release

            Apigee Corporation Announces Record Date and Meeting Date for Special Meeting of Stockholders

            SAN JOSE, Calif. — October 10, 2016 —  Apigee Corporation (NASDAQ: APIC) (“Apigee”), today announced that it has set a record date and a meeting date for its special meeting of stockholders to consider and act upon the previously announced Agreement and Plan of Merger, dated September 7, 2016, by and among Apigee, Google Inc. (“Google”) and Areopagus Inc., a wholly owned subsidiary of Google.

            Apigee stockholders of record at the close of business on October 7, 2016, will be entitled to receive the notice of, and to vote at, the Apigee special meeting.  The Apigee special meeting will be held on November 8, 2016.

            Apigee stockholders who would like assistance in voting or have questions about the Apigee special meeting should contact Apigee’s proxy solicitor, Innisfree M&A Incorporated, at (888) 750-5834 (toll free).

            About Apigee

            Apigee® (NASDAQ: APIC) provides a leading API platform.  Many of the world's largest organizations select Apigee to enable their digital business. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. For more information, go to http://apigee.com.

            Connect with Apigee

            Apigee blog: https://blog.apigee.com/front

            Apigee community: https://community.apigee.com/

            Twitter: https://twitter.com/apigee

            Apigee: https://www.apigee.com/company/apigee

            Apigee is a registered trademark in the U.S. All other trademarks mentioned herein are property of their respective owners.

            Additional Information and Where to Find It

            Apigee filed a preliminary proxy statement on Schedule 14A with the Securities and Exchange Commission (the “SEC”) on September 28, 2016. Promptly after filing its definitive proxy statement with the SEC, Apigee will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the transaction. INVESTORS AND SECURITY HOLDERS OF APIGEE ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT APIGEE WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT APIGEE AND THE TRANSACTION. The definitive proxy statement, the preliminary proxy statement and other relevant materials in connection with the transaction (when they become available), and any other documents filed by Apigee with the SEC, may be obtained free of charge at the SEC’s website (http://www.sec.gov) or through the investor relations section of Apigee’s website (http://investors.Apigee.com).

            Participants in the Solicitation

            Apigee and its directors and executive officers may be deemed to be participants in the solicitation of proxies from Apigee’s stockholders with respect to the merger. Information about Apigee’s directors and executive officers and their ownership of Apigee’s common stock is set forth in the proxy statement for Apigee’s 2016 Annual Meeting of Stockholders filed with the SEC on November 25, 2015. Stockholders may obtain additional information regarding the direct and indirect interests of the participants in the solicitation of proxies in connection with the merger, including the interests of Apigee’s directors and executive officers in the merger, which may be different than those of Apigee’s stockholders generally, by reading the preliminary proxy statement and definitive proxy statement and other relevant documents regarding the merger when they become available, which have been or will be filed with the SEC.

            Forward-Looking Statements
            This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the proposed transaction and business combination between Google and Apigee, including statements regarding the benefits of the transaction, the anticipated timing of the transaction and the products and markets of each company. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect Apigee’s business and the price of the common stock of Apigee, (ii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including circumstances that require Apigee to pay Google a termination fee, (iii) the effect of the announcement or pendency of the transaction on Apigee’s business relationships, operating results, and business generally, (iv) risks that the proposed transaction disrupts current plans and operations of Google or Apigee, including disruptions to relationships with customers, licensees, and other business partners of Apigee and potential difficulties in Apigee employee retention as a result of the transaction, (v) risks related to diverting management’s and employees’ attention from Apigee’s ongoing business operations, (vi) the outcome of any legal proceedings that may be instituted against Google or against Apigee related to the merger agreement or the transaction, (vii) the ability of Google to successfully integrate Apigee’s operations, product lines, and technology within the expected time-line or at all,  (viii) the ability of Google to implement its plans, forecasts, and other expectations with respect to Apigee’s business after the completion of the proposed merger and realize additional opportunities for growth and innovation, (ix) the fact that receipt of the all-cash merger consideration will be taxable to stockholders that are treated as U.S. holders for U.S. federal income tax purposes; (x) the fact that, if the merger is completed, stockholders will forego the opportunity to realize the potential long-term value of the successful execution of Apigee’s current strategy as an independent company and Apigee’s inability to make certain changes to our business pending the completion of the merger, and other restrictions on our ability to conduct our business; (xi) the possibility that Google could, at a later date, engage in unspecified transactions, including restructuring efforts, special dividends or the sale of some or all of Apigee’s assets to one or more as yet unknown purchasers, that could conceivably produce a higher aggregate value than that available to stockholders in the merger; (xii) the fact that under the terms of the merger agreement, Apigee is unable to solicit other acquisition proposals during the pendency of the merger; (xiii) potential uncertainty in the marketplace, which could lead current and prospective customers to purchase from other vendors or delay purchasing from Apigee; (xiv)  the amount of the costs, fees, expenses and charges related to the merger agreement or the merger; (xv) other developments beyond our control, including, but not limited to, changes in domestic or global economic conditions that may affect the timing or success of the merger; (xvi) risks that our stock price may decline significantly if the merger is not completed; and (xvii) risks related to obtaining the requisite consents to the merger, including the timing and receipt of regulatory approvals from various domestic and foreign governmental entities (including any conditions, limitations or restrictions placed on these approvals) and the risk that one or more governmental entities may deny approval.

            The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Annual Report on Form 10-K filed with the SEC on October 7, 2016. Apigee’s SEC filings are available on the Investor Relations section of Apigee’s website at http://investors.Apigee.com and on the SEC's website at www.sec.gov. While Apigee may elect to update forward-looking statements at some point in the future, Apigee specifically disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, and, therefore, should not be relied on as representing Apigee’s views as of any date subsequent to today.

             

            # # #

            Press Contact:

            press@apigee.com

             

            Apigee Investor Contact:

            Kevin Faulkner, Investor Relations

            kfaulkner@apigee.com

            (408) 816-1658

            Share this press release

              Next Stop: Apigee’s “Adapt or Die” Conference Comes to the Big Apple

              Registration for ‘Adapt or Die’ World Tour Events in New York and Chicago Now Open

              SAN JOSE, Calif. – October 6, 2016 – Apigee®, (NASDAQ: APIC), the API company, is bringing its “Adapt or Die” conference to New York City next week, the second stop on the company’s world tour of digital and API how-to events. Adapt or Die in Chicago will follow soon thereafter, on November 17.  Attendees of ‘Adapt or Die’ events in every city will experience a concentrated, one-day, hands-on, immersive dive into the strategies and API technology for adapting people, processes and technology for today’s digital business – #digitalknowhow. 

              Registration for ‘Adapt or Die’ events in New York and Chicago is now open.  Registrations are limited to ensure lively and interactive sessions as well as opportunities for networking with peers and industry experts.

              ‘Adapt or Die’ New York -- Tuesday, October 11, 2016

              WHEN

              Registration begins at 8:00am ET

              Program runs from 9:00am-5:30pm

              Cocktail reception 5:30-7:00pm

              WHERE

              Chelsea Piers

              Pier Sixty

              New York, NY

              WHAT/WHO

              Attendees can come network and learn from their peers, as well as from top digital practitioners including:

              • Aneesh Chopra, the first U.S CTO and current President of NavHealth;
              • James Fairweather, Senior Vice President, Technology, Pitney Bowes;
              • Matias Klein, Vice President of Product Management, McKesson
              • Brian Billingsley, CEO, North America, Klarna
               
              Register for ‘Adapt or Die’ New York here.

               

              Adapt or Die Chicago – Thursday, November 17, 2016

              WHEN

              Registration begins at 8:00am ET

              Program runs from 9:00am-5:30pm

              Cocktail reception 5:30-7:00pm

              WHERE

              Morgan MFG

              401 N. Morgan Street

              Chicago, Ill.

              WHAT/WHO

              Attendees can come network and learn from their peers, as well as from top digital practitioners including:

              • Brandon Mendoza, Director of Product – Connected Car, Allstate
              • Gary King, Former CIO, T-Mobile
              • Drew Schweinfurth, Developer Evangelist, Walgreens

              Register for ‘Adapt or Die’ Chicago here.

              About Apigee

              Apigee® (NASDAQ: APIC) provides a leading API platform for digital business.  Many of the world's largest organizations select Apigee to power their digital business. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data.  Apigee is headquartered in San Jose, California. For more information, go to http://apigee.com.

              Media Contact:

              press@apigee.com

               

              Investor Contact:

              ir@apigee.com

               

               

              Share this press release

                Apigee Announces Fourth Quarter and Fiscal 2016 Results

                San Jose, Calif. – September 14, 2016 – Apigee® (NASDAQ: APIC), the API company, today announced financial results for its fourth quarter and fiscal year ended July 31, 2016.

                Fiscal Year 2016

                For FY 16, Apigee reported total revenue of $92.0 million, up 34% compared to $68.6 million in FY 15. Apigee reported FY 16 product revenue (defined as license revenue plus subscription and support revenue) of $75.3 million, up 46% compared to $51.6 million in FY 15.

                Apigee reported FY 16 GAAP gross margin of 70.1%, up from 63.6% in FY 15, and non-GAAP gross margin of 71.8% compared to 65.3% in FY 15. Apigee reported an FY 16 GAAP operating loss of $40.9 million, compared to $49.5 million in FY 15. FY 16 non-GAAP operating loss was $31.5 million compared to $44.9 million in FY 15.  FY 16 GAAP net loss per share was $1.39, compared to $4.73 in FY 15, and FY 16 non-GAAP net loss per share was $1.08 compared to $1.81 in FY 15. FY 16 operating cash flow improved to $(21.7) million compared to $(37.4) million in FY 15.  Total deferred revenue was

                $53.9 million at the end of FY 16 up 32% from $40.8 million at the end of FY 15. The balance of cash and cash equivalents at the end of FY 16 was $68.3 million.

                A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

                Fourth Quarter Fiscal 2016

                For Q4 16, Apigee reported total revenue of $25.1 million, up 34% from $18.7 million in Q4 15. Apigee reported Q4 16 product revenue (defined as license revenue plus subscription and support revenue) of $20.2 million, up 39% from $14.5 million in Q4 15.

                Apigee reported Q4 16 GAAP gross margin of 70.9%, up from 66.4% in Q4 15, and Q4 16 non-GAAP gross margin of 72.7%, up from 68.1% in Q4 15. Apigee reported a Q4 16 GAAP operating loss of $9.6 million, compared to $12.4 million in Q4 15. Q4 16 non-GAAP operating loss was $6.3 million, compared to $11.0 million in Q4 15. Q4 16 GAAP net loss per share was

                $0.32, compared to $0.43 in Q4 15. Q4 16 non-GAAP net loss per share was $0.21, compared to $0.38 in Q4 15. Q4 16 operating cash flow was $(2.6) million, compared to $(13.9) million in Q4 15.

                Recent Business Updates:

                • Apigee now has more than 335 customers, up more than 130 compared to the end of Q4 15. In Q4 16, we did expansion deals with 50 customers.
                • Key customers in the quarter included Allstate, CLEAR, digitalSTROM, Du, Emaratech, Lego, MindBody, Morrisons, SEI Investments, Shutterfly, T-Mobile, Telstra, Thomson Reuters, Uptake and Western Union.
                • Our FY 16 simple dollar-based renewal rate exceeded 90%.
                • For FY 16, Apigee reported gross billings of $105.1 million, up 29% from $81.2 million in FY 15. FY 16 product gross billings were $84.1 million, up 33% from $63.4 million a year ago.
                • We announced Apigee Open Banking APIx, a new software accelerator designed to help banks within the European Union more quickly and easily embrace open banking requirements set out in the revised Payment Services Directive (PSD2).
                • Apigee and Pivotal announced that Apigee Edge's Microgateway capability is now supported by Pivotal Cloud Foundry, enabling developers to more easily leverage Apigee's API management software to share, monitor and secure APIs and microservices for applications developed with Pivotal's cloud native platform.
                • We entered into new or expanded partnership agreements in the quarter with Acclaim Consulting Group, Algorism, Cloud Elements, Data Factory Labs, DigitalAPICraft, finRenaissance, Incentro, Juggernaut Innovations, Okta, Pivotal, PromptNow, Tata America International, Tavant Technologies, The APIfoundry, The Coral Edge, and Winning Edge Solutions.

                Guidance:

                On September 8, 2016, Apigee announced that it had entered into a definitive agreement to be acquired by Google. As a result, Apigee will not provide an outlook for our future financial results. Any previous statements that could be interpreted to project our future financial performance should no longer be relied upon.

                Conference Call Details:

                As a result of the acquisition announcement, the conference call previously scheduled for today to discuss our financial results has been canceled.

                About Apigee

                Apigee® (NASDAQ: APIC) provides a leading API platform for digital business. Many of the world's largest organizations select Apigee to power their digital business. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California. For more information go to http://apigee.com

                Forward-Looking Statements

                This communication contains certain forward-looking statements within the meaning of the Private Securities Lititgation Reform Act of 1995 with respect to the proposed transaction and business combination between Google and Apigee.  Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual results to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect Apigee's business and the price of the common stock of Apigee, (ii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Apigee and the receipt of certain governmental and regulatory approvals, (iii) the occurrence of any event, change or other circumstance that could give rise to termination of the merger agreement, (iv) the effect of the announcement or pendency of the transaction on Apigee's business relationships, operating results, and business generally, (v) risks that the proposed transaction disrupts current plans and operations of Google or Apigee, including disruptions to relationships with customers, licensees, and other business partners of Apigee and potential difficulties in Apigee employee retention as a result of the transaction, (vi) risks related to diverting management's attention from Apigee's ongoing business operations, and (vii) the outcome of any legal proceedings that may be instituted against Google or against Apigee related to the merger agreement or the transaction.

                The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in Apigee’s Quarterly Report on Form 10-Q filed with the SEC on May 27, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC’s website at www.sec.gov. While Apigee may elect to update forward-looking statements at some point in the future, Apigee specifically disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, and, therefore, you should not rely on these forward-looking statements as representing Apigee's views as of any date subsequent to today.

                Non-GAAP Financial Measures

                Apigee provides the following non-GAAP financial measures in this release: gross billings, product gross billings, non-GAAP gross margin, non-GAAP operating loss, non-GAAP net loss, and non-GAAP net loss per share. These non-GAAP items are key measures used by our management to understand and evaluate our operating performance and trends. In particular, because a number of these measures exclude certain non-cash expenses, they can provide useful measures for period-to-period comparisons of our business.

                Apigee uses these non-GAAP financial measures internally in analyzing its operating results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating its ongoing operational performance. Apigee believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends.

                Non-GAAP financial measures should not be considered in isolation from, or as substitutes for, their most directly comparable financial measure prepared in accordance with GAAP. A reconciliation of the historical non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release. Investors are encouraged to review the reconciliation of these historical non-GAAP financial measures to their most directly comparable GAAP financial measures.

                We calculate non-GAAP gross margin, non-GAAP operating loss and non-GAAP net loss as the respective GAAP balances, adjusted for: (1) stock-based compensation and (2) the amortization of intangible assets. Non-GAAP net loss per share is calculated as non-GAAP net loss divided by GAAP weighted average shares outstanding, except with respect to FY 15. For FY 15, non-GAAP net loss per share is calculated as non-GAAP net loss divided by non-GAAP weighted average shares outstanding. The non-GAAP weighted average shares outstanding are adjusted to assume the conversion of outstanding preferred shares to common shares as of the beginning of the period.

                We define gross billings as our total revenue plus the change in our deferred revenue in a period. We define product gross billings as our total product revenue (where product is defined as license, subscription and support) plus the change in our license, subscription and support deferred revenue in a period. Gross billings and product gross billings in any period consists of sales to new customers plus renewals and additional sales to existing customers. Our management uses gross billings and product gross billings as a performance measurement because we believe that gross billings and product gross billings provide valuable insight into the sales of our solutions and the performance of our business. On certain transactions, a portion of gross billings will be recognized as revenue over a period of more than 12 months. We do not consider gross billings as a substitute for revenue recognition or revenue measurement.

                Investor Relations Contact:

                Kevin Faulkner kfaulkner@apigee.com 1-408-816-1658

                Media Contact:

                press@apigee.com

                Apigee Corporation

                Consolidated Balance Sheets

                in thousands)

                   

                July 31,

                 

                July 31,

                   

                2016

                 

                2015

                   

                (Unaudited)

                   

                Assets

                       

                Current assets

                       

                Cash and cash equivalents

                 

                $

                68,303

                   

                $

                89,562

                 

                Accounts receivable, net

                 

                25,958

                   

                21,451

                 

                Prepaid expenses and other current assets

                 

                5,092

                   

                5,806

                 

                Total current assets

                 

                99,353

                   

                116,819

                 

                Property and equipment, net

                 

                1,923

                   

                3,144

                 

                Goodwill

                 

                14,744

                   

                14,744

                 

                Intangible assets, net

                 

                2,165

                   

                3,200

                 

                Other assets

                 

                652

                   

                799

                 

                Total assets

                 

                $

                118,837

                   

                $

                138,706

                 

                Liabilities and stockholders’ equity

                       

                Current liabilities

                       

                Accounts payable

                 

                $

                368

                   

                $

                2,015

                 

                Accrued expenses and other current liabilities

                 

                11,247

                   

                9,796

                 

                Deferred revenue, current portion

                 

                44,833

                   

                35,648

                 

                Term debt, current portion

                 

                1,318

                   

                2,079

                 

                Total current liabilities

                 

                57,766

                   

                49,538

                 

                Non-current liabilities

                       

                Deferred revenue, non-current

                 

                9,056

                   

                5,154

                 

                Deferred rent, non-current

                 

                1,038

                   

                1,550

                 

                Other liabilities, non-current

                 

                645

                   

                773

                 

                Term debt, non-current

                 

                882

                   

                1,787

                 

                Total non-current liabilities

                 

                11,621

                   

                9,264

                 

                Total liabilities

                 

                69,387

                   

                58,802

                 

                Commitments and contingencies

                       

                Stockholders’ equity

                       

                Common stock

                 

                30

                   

                29

                 

                Additional paid-in capital

                 

                287,156

                   

                276,099

                 

                Accumulated deficit

                 

                (237,736

                )

                 

                (196,224

                )

                Total stockholders’ equity

                 

                49,450

                   

                79,904

                 

                Total liabilities and stockholders’ equity

                 

                $

                118,837

                   

                $

                138,706

                 

                Apigee Corporation

                Consolidated Statements of Comprehensive Loss

                (in thousands, except per share amounts)

                   

                Three Months Ended
                 July 31,

                 

                Year Ended
                 July 31,

                   

                2016

                 

                2015

                 

                2016

                 

                2015

                   

                (Unaudited)

                 

                (Unaudited)

                Revenue

                               

                License

                 

                $

                8,582

                   

                $

                5,538

                   

                $

                32,345

                   

                $

                20,757

                 

                Subscription and support

                 

                11,604

                   

                9,007

                   

                42,936

                   

                30,865

                 

                Professional services and other

                 

                4,930

                   

                4,157

                   

                16,746

                   

                16,985

                 

                Total revenue

                 

                25,116

                   

                18,702

                   

                92,027

                   

                68,607

                 

                Cost of revenue

                               

                License

                 

                136

                   

                128

                   

                521

                   

                514

                 

                Subscription and support

                 

                3,168

                   

                2,887

                   

                12,469

                   

                11,062

                 

                Professional services and other

                 

                4,007

                   

                3,268

                   

                14,535

                   

                13,415

                 

                Total cost of revenue

                 

                7,311

                   

                6,283

                   

                27,525

                   

                24,991

                 

                Gross profit

                 

                17,805

                   

                12,419

                   

                64,502

                   

                43,616

                 

                Operating expenses

                               

                Research and development

                 

                10,281

                   

                8,435

                   

                37,795

                   

                30,387

                 

                Sales and marketing

                 

                12,166

                   

                12,937

                   

                50,178

                   

                49,250

                 

                General and administrative

                 

                4,963

                   

                3,450

                   

                17,436

                   

                13,453

                 

                Total operating expenses

                 

                27,410

                   

                24,822

                   

                105,409

                   

                93,090

                 

                Loss from operations

                 

                (9,605

                )

                 

                (12,403

                )

                 

                (40,907

                )

                 

                (49,474

                )

                Other income (expense), net

                 

                11

                   

                (69

                )

                 

                (390

                )

                 

                (452

                )

                Loss before provision for income taxes

                 

                (9,594

                )

                 

                (12,472

                )

                 

                (41,297

                )

                 

                (49,926

                )

                Provision for income taxes

                 

                (65

                )

                 

                84

                   

                215

                   

                427

                 

                Net loss and comprehensive loss

                 

                $

                (9,529

                )

                 

                $

                (12,556

                )

                 

                $

                (41,512

                )

                 

                $

                (50,353

                )

                Net loss per share:

                               

                Basic and diluted

                 

                $

                (0.32

                )

                 

                $

                (0.43

                )

                 

                $

                (1.39

                )

                 

                $

                (4.73

                )

                Weighted-average shares outstanding used in calculating net loss per share:

                 

                 

                           

                Basic and diluted

                 

                30,211

                   

                29,313

                   

                29,769

                   

                10,651

                 

                Apigee Corporation

                Consolidated Statements of Cash Flows

                (in thousands)

                   

                Three Months Ended
                 July 31,

                 

                Year Ended
                 July 31,

                   

                2016

                 

                2015

                 

                2016

                 

                2015

                   

                (Unaudited)

                 

                (Unaudited)

                Cash flows from operating activities

                               

                Net loss

                 

                $

                (9,529

                )

                 

                $

                (12,556

                )

                 

                $

                (41,512

                )

                 

                $

                (50,353

                )

                Adjustments to reconcile net loss to net cash used in operating activities

                               

                Depreciation and amortization

                 

                611

                   

                627

                   

                2,401

                   

                2,436

                 

                Provision for doubtful accounts

                 

                (80

                )

                 

                4

                   

                (14

                )

                 

                42

                 

                Amortization of debt discount

                 

                14

                   

                8

                   

                39

                   

                46

                 

                Deferred income taxes

                 

                   

                   

                   

                 

                Stock-based compensation expense

                 

                3,010

                   

                1,182

                   

                8,388

                   

                3,451

                 

                Loss (gain) on disposal of fixed assets

                 

                   

                10

                   

                   

                10

                 

                Loss on lease abandonment

                 

                   

                   

                   

                 

                Changes in operating assets and liabilities

                               

                Accounts receivable

                 

                1,638

                   

                (5,363

                )

                 

                (4,493

                )

                 

                (5,090

                )

                Prepaid expenses and other assets

                 

                (259

                )

                 

                (1,771

                )

                 

                841

                   

                (1,733

                )

                Accounts payable

                 

                (152

                )

                 

                433

                   

                (1,400

                )

                 

                (996

                )

                Accrued expenses, other liabilities and deferred rent

                 

                (810

                )

                 

                1,131

                   

                968

                   

                2,209

                 

                Deferred revenue

                 

                2,979

                   

                2,422

                   

                13,087

                   

                12,611

                 

                Net cash used in operating activities

                 

                (2,578

                )

                 

                (13,873

                )

                 

                (21,695

                )

                 

                (37,367

                )

                Cash flows from investing activities

                               

                Purchase of property and equipment

                 

                (105

                )

                 

                (131

                )

                 

                (241

                )

                 

                (966

                )

                Net cash used in investing activities

                 

                (105

                )

                 

                (131

                )

                 

                (241

                )

                 

                (966

                )

                Cash flows from financing activities

                               

                Proceeds from issuance of debt, net of issuance costs

                 

                   

                   

                2,648

                   

                4,000

                 

                Repayments of debt obligations

                 

                (331

                )

                 

                (524

                )

                 

                (4,489

                )

                 

                (5,382

                )

                Proceeds from initial public offering, net of offering costs

                 

                   

                   

                (152

                )

                 

                77,092

                 

                Payment of deferred costs related to initial public offering

                 

                   

                (1,172

                )

                     

                 

                Repurchase of Series G-1 convertible preferred stock

                         

                (18

                )

                   

                Cash paid for fractional shares

                 

                (18

                )

                 

                (8

                )

                 

                   

                (8

                )

                Distribution of vested Restricted stock units (net)

                         

                (531

                )

                   

                Taxes paid related to net share settlement of equity awards

                 

                (531

                )

                 

                     

                 

                Proceeds from exercise of stock options, net of taxes paid

                 

                555

                   

                25

                   

                1,162

                   

                434

                 

                Proceeds from issuance of Employee Stock Purchase Plan shares

                 

                1,096

                   

                   

                2,057

                   

                 

                Net cash provided by (used in) financing activities

                 

                771

                   

                (1,679

                )

                 

                677

                   

                76,136

                 

                Net increase (decrease) in cash and cash equivalents

                 

                (1,912

                )

                 

                (15,683

                )

                 

                (21,259

                )

                 

                37,803

                 

                Cash and cash equivalents

                               

                Beginning of period

                 

                70,215

                   

                105,245

                   

                89,562

                   

                51,759

                 

                End of period

                 

                68,303

                   

                89,562

                   

                68,303

                   

                89,562

                 

                Apigee Corporation

                Reconciliation of GAAP to Non-GAAP Financial Measures

                (in thousands, except per share amounts)

                   

                Three Months Ended
                 July 31,

                 

                Year Ended
                 July 31,

                   

                2016

                 

                2015

                 

                2016

                 

                2015

                Gross billings

                               

                Total revenue

                 

                $

                25,116

                   

                $

                18,702

                   

                $

                92,027

                   

                $

                68,607

                 

                Total deferred revenue, end of period

                 

                53,889

                   

                40,802

                   

                53,889

                   

                40,802

                 

                Less: Total deferred revenue, beginning of period

                 

                (50,909

                )

                 

                (38,379

                )

                 

                (40,802

                )

                 

                (28,190

                )

                Total change in deferred revenue

                 

                2,980

                   

                2,423

                   

                13,087

                   

                12,612

                 

                Gross billings

                 

                $

                28,096

                   

                $

                21,125

                   

                $

                105,114

                   

                $

                81,219

                 

                Product gross billings

                               

                License

                 

                $

                8,582

                   

                $

                5,538

                   

                $

                32,345

                   

                20,757

                 

                Subscription and support

                 

                11,604

                   

                9,007

                   

                42,936

                   

                30,865

                 

                Total product revenue

                 

                20,186

                   

                14,545

                   

                75,281

                   

                51,622

                 

                Total license, subscription and support deferred revenue,
                end of period

                 

                45,492

                   

                36,638

                   

                45,492

                   

                36,638

                 

                Less: Total license, subscription and support deferred
                revenue, beginning of period

                 

                (43,177

                )

                 

                (34,749

                )

                 

                (36,638

                )

                 

                (24,848

                )

                Total change in license, subscription and support
                deferred revenue

                 

                2,315

                   

                1,889

                   

                8,854

                   

                11,790

                 

                Product gross billings

                 

                $

                22,501

                   

                $

                16,434

                   

                $

                84,135

                   

                $

                63,412

                 

                Non-GAAP gross margin

                               

                Gross margin

                 

                70.9

                %

                 

                66.4

                %

                 

                70.1

                %

                 

                63.6

                %

                Add: Stock-based compensation expense

                 

                0.8

                %

                 

                0.5

                %

                 

                0.7

                %

                 

                0.4

                %

                Add: Amortization of intangible assets

                 

                1.0

                %

                 

                1.2

                %

                 

                1.0

                %

                 

                1.3

                %

                Non-GAAP gross margin

                 

                72.7

                %

                 

                68.1

                %

                 

                71.8

                %

                 

                65.3

                %

                Non-GAAP license gross profit:

                               

                License gross profit

                 

                $

                8,446

                   

                $

                5,410

                   

                $

                31,824

                   

                $

                20,243

                 

                License gross margin

                 

                98.4

                %

                 

                97.7

                %

                 

                98.4

                %

                 

                97.5

                %

                Add: Amortization of intangible assets

                 

                121

                   

                114

                   

                463

                   

                454

                 

                Non-GAAP license gross profit

                 

                $

                8,567

                   

                $

                5,524

                   

                $

                32,287

                   

                $

                20,697

                 

                Non-GAAP license gross margin

                 

                99.8

                %

                 

                99.7

                %

                 

                99.8

                %

                 

                99.7

                %

                Non-GAAP subscription and support gross profit:

                               

                Subscription and support gross profit

                 

                $

                8,436

                   

                $

                6,120

                   

                $

                30,467

                   

                $

                19,803

                 

                Subscription and support gross margin

                 

                72.7

                %

                 

                67.9

                %

                 

                71.0

                %

                 

                64.2

                %

                Add: Stock-based compensation expense

                 

                33

                   

                23

                   

                147

                   

                44

                 

                Add: Amortization of intangible assets

                 

                121

                   

                113

                   

                460

                   

                454

                 

                Non-GAAP subscription and support gross profit

                 

                $

                8,590

                   

                $

                6,256

                   

                $

                31,074

                   

                $

                20,301

                 

                Non-GAAP subscription and support gross margin

                 

                74.0

                %

                 

                69.5

                %

                 

                72.4

                %

                 

                65.8

                %

                Non-GAAP professional services and other
                gross profit:

                               

                Professional services and other gross profit

                 

                $

                923

                   

                $

                889

                   

                $

                2,211

                   

                $

                3,570

                 

                Professional services and other gross margin

                 

                18.7

                %

                 

                21.4

                %

                 

                13.2

                %

                 

                21.0

                %

                Add: Stock-based compensation expense

                 

                192

                   

                78

                   

                520

                   

                223

                 

                Non-GAAP professional services and other
                gross profit

                 

                $

                1,115

                   

                $

                967

                   

                $

                2,731

                   

                $

                3,793

                 

                Non-GAAP professional services
                and other gross margin

                 

                22.6

                %

                 

                23.3

                %

                 

                16.3

                %

                 

                22.3

                %

                Non-GAAP research and development expense:

                               

                GAAP research and development expense

                 

                $

                10,281

                   

                $

                8,435

                   

                $

                37,795

                   

                $

                30,387

                 

                Less: Stock-based compensation expense

                 

                (1,457

                )

                 

                (436

                )

                 

                (3,592

                )

                 

                (1,195

                )

                Less: Amortization of intangible assets

                 

                (6

                )

                 

                (44

                )

                 

                (112

                )

                 

                (176

                )

                Non-GAAP research and development expense

                 

                $

                8,818

                   

                $

                7,955

                   

                $

                34,091

                   

                $

                29,016

                 

                Non-GAAP sales and marketing expense:

                               

                GAAP sales and marketing expense

                 

                $

                12,166

                   

                $

                12,937

                   

                $

                50,178

                   

                $

                49,250

                 

                Less: Stock-based compensation expense

                 

                (583

                )

                 

                (285

                )

                 

                (1,808

                )

                 

                (777

                )

                Less: Amortization of intangible assets

                 

                   

                   

                   

                (58

                )

                Non-GAAP sales and marketing expense

                 

                $

                11,583

                   

                $

                12,652

                   

                $

                48,370

                   

                $

                48,415

                 

                Non-GAAP general and administrative expense:

                               

                GAAP general and administrative expense

                 

                $

                4,963

                   

                $

                3,450

                   

                $

                17,436

                   

                $

                13,453

                 

                Less : Stock-based compensation expense

                 

                (745

                )

                 

                (360

                )

                 

                (2,321

                )

                 

                (1,212

                )

                Non-GAAP general and administrative expense

                 

                $

                4,218

                   

                $

                3,090

                   

                $

                15,115

                   

                $

                12,241

                 

                Non-GAAP operating loss:

                               

                Operating loss

                 

                $

                (9,605

                )

                 

                $

                (12,403

                )

                 

                $

                (40,907

                )

                 

                $

                (49,474

                )

                Add: Stock-based compensation expense

                 

                3,010

                   

                1,182

                   

                8,388

                   

                3,451

                 

                Add: Amortization of intangible assets

                 

                248

                   

                271

                   

                1,035

                   

                1,142

                 

                Non-GAAP operating loss

                 

                $

                (6,347

                )

                 

                $

                (10,950

                )

                 

                $

                (31,484

                )

                 

                $

                (44,881

                )

                Non-GAAP net loss:

                               

                Net loss

                 

                $

                (9,529

                )

                 

                $

                (12,556

                )

                 

                $

                (41,513

                )

                 

                $

                (50,353

                )

                Add: Stock-based compensation expense

                 

                3,010

                   

                1,182

                   

                8,388

                   

                3,451

                 

                Add: Amortization of intangible assets

                 

                248

                   

                271

                   

                1,035

                   

                1,142

                 

                Non-GAAP net loss

                 

                $

                (6,271

                )

                 

                $

                (11,103

                )

                 

                $

                (32,090

                )

                 

                $

                (45,760

                )

                Non-GAAP net loss per share:

                               

                  GAAP net loss per share

                 

                $

                (0.32

                )

                 

                $

                (0.43

                )

                 

                $

                (1.39

                )

                 

                $

                (4.73

                )

                  Non-GAAP adjustments to net loss per share

                 

                0.11

                   

                0.05

                   

                0.32

                   

                0.43

                 

                  Non-GAAP adjustments to weighted average
                  shares used in calculating net loss per share

                       

                2.49

                  Non-GAAP net loss per share

                 

                $

                (0.21

                )

                 

                $

                (0.38

                )

                 

                $

                (1.08

                )

                 

                $

                (1.81

                )

                Non-GAAP weighted average shares outstanding:

                               

                Weighted-average shares outstanding used in calculating
                net loss per share, basic and diluted

                 

                $

                30,211

                 

                 

                $

                29,313

                 

                 

                $

                29,769

                 

                 

                $

                10,651

                 

                Add: Conversion of preferred convertible stock

                 

                   

                   

                   

                14,665

                 

                Non-GAAP Weighted-average shares
                outstanding used in calculating net loss per share,

                 

                30,211

                   

                29,313

                   

                29,769

                   

                25,316

                 

                 

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                  Apigee Enters Definitive Agreement to be Acquired by Google

                  Joining forces to empower digital business with APIs and open cloud technologies

                  SAN JOSE, Calif. — Sept. 8, 2016 —  Apigee® (NASDAQ: APIC), the API company, today announced that it has entered into a definitive agreement under which Google will acquire Apigee for $17.40 per share in cash, for a total value of approximately $625 million. The transaction is subject to the satisfaction of customary closing conditions, including Apigee stockholder approval and applicable regulatory approvals. The companies expect the transaction to close by the end of 2016.

                  “We’re excited about adding Apigee to Google,” said Diane Greene, SVP of Google’s cloud businesses. “Companies are moving beyond the traditional ways of communicating like phone calls and visits and instead are communicating programmatically through APIs. APIs allow the company’s backend services to talk to the mobile and web-based apps used by their customers and partners. Instead of the doctor phoning a prescription into the pharmacy, they can use an app that talks to the pharmacy through an API. Apigee easily enables this by providing a comprehensive API platform that supports secure, stable, multi-language, dev, test, publish and analytics capabilities.”

                  Chet Kapoor, Apigee CEO said: “We've entered a new era of cloud computing, where enterprises are increasingly running business-critical applications in the cloud – and across multiple clouds. Google is the open cloud provider committed to delivering new software for not only hybrid-cloud environments, but also for the multi-cloud world.” Kapoor continued, “With their history of innovation in web and mobile technologies, we believe Google is the partner for companies embarking on digital transformation. We look forward to being able to accelerate our mission to connect the world through APIs as part of the Google team.”

                  Additional Information

                  A blogpost from Diane Greene, Senior Vice President of Google’s cloud businesses is available here.

                  A blogpost from Apigee CEO Chet Kapoor and an FAQ is available here.

                   

                  About Apigee

                  Apigee® (NASDAQ: APIC) provides a leading API platform. Many of the world's largest organizations select Apigee to enable their digital business. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. For more information, go to http://apigee.com.

                  Connect with Apigee

                  Apigee blog: https://blog.apigee.com/front

                  Apigee community: https://community.apigee.com/

                  Twitter: https://twitter.com/apigee

                  Apigee: https://www.apigee.com/company/apigee

                  Apigee is a registered trademark in the U.S. All other trademarks mentioned herein are property of their respective owners.

                  Additional Information and Where to Find It

                  In connection with the transaction, Apigee (the “Company”) intends to file relevant materials with the Securities and Exchange Commission (the “SEC”), including a preliminary proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, the Company will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the transaction. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT THE COMPANY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE TRANSACTION. The definitive proxy statement, the preliminary proxy statement and other relevant materials in connection with the transaction (when they become available), and any other documents filed by the Company with the SEC, may be obtained free of charge at the SEC’s website (http://www.sec.gov) or through the investor relations section of the Company’s website (http://investors.Apigee.com).

                  Participants in the Solicitation

                  Apigee and its directors and executive officers may be deemed to be participants in the solicitation of proxies from Apigee’s stockholders with respect to the transaction.  Information about Apigee’s directors and executive officers and their ownership of Apigee’s Common Stock is set forth in Apigee’s proxy statement on Schedule 14A filed with the SEC on November 25, 2015. Information regarding the identity of the potential participants, and their direct or indirect interests in the transaction, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with SEC in connection with the transaction.

                  Forward-Looking Statements

                  This communication contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the proposed transaction and business combination between Google and Apigee, including statements regarding the benefits of the transaction, the anticipated timing of the transaction and the products and markets of each company. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect Apigee’s business and the price of the common stock of Apigee, (ii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Apigee and the receipt of certain governmental and regulatory approvals, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (iv) the effect of the announcement or pendency of the transaction on Apigee’s business relationships, operating results, and business generally, (v) risks that the proposed transaction disrupts current plans and operations of Google or Apigee, including disruptions to relationships with customers, licensees, and other business partners of Apigee and potential difficulties in Apigee employee retention as a result of the transaction, (vi) risks related to diverting management’s attention from Apigee’s ongoing business operations, (vii) the outcome of any legal proceedings that may be instituted against Google or against Apigee related to the merger agreement or the transaction, (viii) the ability of Google to successfully integrate Apigee’s operations, product lines, and technology within the expected time-line or at all, and (ix) the ability of Google to implement its plans, forecasts, and other expectations with respect to Apigee’s business after the completion of the proposed merger and realize additional opportunities for growth and innovation.

                  The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Quarterly Report on Form 10-Q filed with the SEC on May 27, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov. While Apigee may elect to update forward-looking statements at some point in the future, Apigee specifically disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, and, therefore, you should not rely on these forward-looking statements as representing Apigee’ views as of any date subsequent to today.

                   

                  # # #

                   

                  Press Contacts:

                  press@google.com

                  press@apigee.com

                   

                  Apigee Investor Contact:

                  Kevin Faulkner

                  kfaulkner@apigee.com

                  (408) 816-1658

                   

                   

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                    Leading Supplier of Commercial Data & Analytics Leveraging Apigee to Deliver Business Intelligence Faster

                     

                    Dun & Bradstreet using Apigee API management for its API-powered D&B Direct+ Platform

                     

                    SAN JOSE, Calif. –  Apigee® (NASDAQ: APIC), the API company, today revealed that Dun & Bradstreet is leveraging the Apigee Edge API management software to help deliver API-powered business intelligence to Dun & Bradstreet customers, faster.

                     

                    Dun & Bradstreet selected Apigee API management for building and powering D&B Direct+, the latest version of the company’s web services platform that leverages D&B APIs to deliver new business intelligence to Dun & Bradstreet customers. D&B Direct+ empowers customers to stream and integrate reliable, on-demand business information from Dun & Bradstreet into enterprise-wide systems such as customer relationship management (CRM) systems, corporate intranets and web applications.

                     

                    The Apigee Edge API management software helps D&B Direct+ rapidly deliver business data to customers. Most D&B Direct+ customers can garner requested data in milliseconds, enabling them to quickly address information management challenges, identify and act on emerging business opportunities. As an example, insurance companies that are pricing their policies online can now quickly access and utilize Dun & Bradstreet’s automatic workflow reference data for real-time pricing comparisons.

                     

                    “In today’s hyper-connected world, data providers need to keep up with their customers’ demands for real-time access to business intelligence to help inform crucial business decisions,” said Ed Anuff, Apigee senior vice president of strategy. “Through their use of Apigee Edge API management software, we are proud to support Dun & Bradstreet’s digital innovation and enable new growth opportunities for their customers.”

                     

                    Apigee’s flagshship Apigee Edge API management software enables organizations to securely deliver and manage APIs, with agility and at scale. Apigee Edge is part of the Apigee API platform, which also includes Apigee Insights, an API-based, self-service predictive analytics solution, and Apigee Link, an API-first Internet of Things (IoT) product for connecting devices to the Internet. Most recently, Apigee introduced Apigee Sense, an intelligent API security product.

                    About Apigee

                    Apigee® (NASDAQ: APIC) provides a leading API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including more than 30 percent of the Fortune 100, four of the top five Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. For more information, go to http://apigee.com.

                    Connect with Apigee

                    Apigee blog: /about/blog/front

                    Apigee community: https://community.apigee.com/

                    Twitter: https://twitter.com/Apigee

                    LinkedIn: https://www.linkedin.com/company/apigee

                     

                    ###

                     

                    Apigee is a registered trademark in the U.S. Other product or company names mentioned may be trademarks or trade names of their respective companies.

                     

                    Apigee Media Contact:

                    press@apigee.com

                     

                     

                     

                     

                     

                    Share this press release

                      Apigee Delivers New Business APIs for Digital Commerce

                       

                      Apigee Commerce APIx Can Help Companies Rapidly Mobilize And Engage Users Across Channels

                       

                      SAN JOSE, Calif. —   Apigee® (NASDAQ: APIC), the API company, today announced Apigee Commerce APIx, a new software accelerator designed to help companies selling products online jump-start their API-powered digital commerce initiatives. Built on Apigee Edge, a leading API management platform, Apigee Commerce APIx features a set of open-source, ready-to-use digital commerce APIs and a purpose-built developer portal to help retailers or any other company quickly build a modern digital commerce program. Apigee Commerce APIx adds another key offering to Apigee’s APIx family, a suite of industry-specific business APIs. 

                       

                      “There’s increasing pressure today for companies to quickly adapt to demand for digital experiences -- or risk becoming irrelevant. Our Commerce APIx solution provides a head start for companies looking to expand, build or accelerate their e-commerce initiatives,” Anurag Wadehra, Apigee CMO and vice president, solutions.

                       

                      “In every industry, there are APIs that are proving to have real business impact – and Apigee Commerce APIx delivers the core set of APIs that we believe can help companies quickly build modern, cross-channel commerce applications,” continued Wadehra.

                       

                      Many retailers are focusing on leveraging APIs to offer customers instant, personalized engagement through multiple online and physical channels.  Today, four of the top five largest retailers in the world[1] leverage Apigee to help them manage, secure and scale their API programs.

                       

                      Kristopher Kleva, technical lead for e-commerce at outdoor and clothing retailer L.L. Bean, noted, “The escalating competition in e-commerce means we all must adapt - fast.  We are focusing on our core commerce APIs to deliver rich digital experiences that our customers expect and demand. We started over one hundred years ago as a mail-order and retail pioneer, and now we’re proud to be seen as a digital pioneer – and Apigee is helping us do this.”

                       

                      Apigee and L.L. Bean Webcast – Aug. 25

                      Apigee is teaming up with Kleva to host a webcast to showcase the importance of retail APIs, provide tips to accelerate e-commerce initiatives, and demonstrate Apigee’s Commerce APIx solution. The webcast, L.L.Bean’s API Journey: Digital Commerce Done Right, will take place on Aug. 25, 2016 at 10:00 a.m. Pacific time.

                       

                      Apigee Commerce APIx leverages Apigee Edge, Apigee’s flagship product and leading API management software. It provides business APIs that help brands build rich e-commerce experiences, connect with users on mobile and social channels, and help create customer loyalty. The Apigee Commerce APIx solution will provide digital teams, including mobile and web developers, with access to capabilities including:

                      • A commerce-specific developer portal with API documentation and tools;
                      • A collection of pre-configured API proxies for commerce APIs that support core retail functions, including categories like Core (authentication, product, collection search and cart), Engagement (promotions, recommendations and personalized product search) and Fulfillment;
                      • Commerce APIs that can be consumed by mobile apps, web apps and other APIs, built in a RESTful architectural style with data represented in JSON.

                       

                      Apigee Commerce APIx delivers the benefits of the Apigee Edge API management platform, including API security, API analytics, and developer on-boarding capabilities. For more information about Apigee Commerce APIx, go to http://apigee.com/about/solutions/commerce-apix.

                       

                      About Apigee

                      Apigee® (NASDAQ: APIC) provides a leading API platform. Many of the world's largest organizations select Apigee to enable their digital business, including more than 30 percent of the Fortune 100, four of the top five Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. For more information, go to http://apigee.com.

                       

                      Safe Harbor Statement

                      This press release contains forward-looking statements, including statements regarding the expected need for enterprises to offer digital experiences and the potential future customer benefits of using Apigee’s products. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements.  Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to introducing new products successfully; market adoption of digital technologies; the ability of Apigee’s software to meet its customers’ needs; the quality of Apigee’s software, support and services and related infrastructure capacity; and any incorrect implementation or use of Apigee software.

                       

                      The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Quarterly Report on Form 10-Q filed with the SEC on May 27, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov. Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

                       

                      Connect with Apigee

                      Apigee blog: /about/blog/front

                      Apigee community: https://community.apigee.com/

                      Twitter: https://twitter.com/Apigee

                      LinkedIn: https://www.linkedin.com/company/apigee

                      Apigee is a registered trademark in the U.S. All other trademarks mentioned herein are property of their respective owners.

                      # # #

                       

                      Media Contact:

                      press@apigee.com

                       



                      [1] Forbes Global 2000, 2016: http://www.forbes.com/pictures/flhm45edljh/wal-mart-dominates-but-a/#6ba430b97cdc

                       

                       

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                        Apigee Announces Date of Fourth Quarter and Fiscal 2016 Financial Results Conference Call

                        SAN JOSE, Calif., Aug. 16, 2016 (GLOBE NEWSWIRE) -- Apigee (NASDAQ:APIC), the API company, announced that it will report its financial results for the fourth quarter and fiscal year ended July 31, 2016 after market close on Wednesday, September 14, 2016. The company also announced that it will hold a conference call on the same day at 5:00 PM Eastern Time (2:00 PM Pacific Time) to discuss its financial results. The conference call may include forward-looking statements.

                        The conference call can be accessed by dialing 1-877-407-4018 from the United States or 1-201-689-8471 internationally, with reference to the company name and conference title.  A live webcast of the conference call can be accessed from the investor relations page of Apigee’s company website at http://investors.apigee.com. Following the completion of the call, a recorded replay will be available on the company’s website, and a telephone replay will be available through 11:59 PM Eastern Time on September 21, 2016 by dialing 1-877-870-5176 from the United States or 1-858-384-5517 internationally, with recording access code 13642878.

                        About Apigee

                        Apigee® (NASDAQ:APIC) provides a leading API platform for digital business. Many of the world's largest organizations select Apigee to power their digital business, including over 30 percent of the Fortune 100, four of the top five Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California.

                        Media contact:

                        press@apigee.com

                        
                        
                        

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