(Bloomberg) -- Google is buying software development toolmaker Apigee Corp. for $625 million, the latest move by the search giant to bulk up its cloud-based offerings for businesses.

Alphabet Inc.’s Google has agreed to pay $17.40 a share in cash, San Jose, California-based Apigee said in a statement Thursday. That’s a 6.5 percent premium to Apigee’s closing price Wednesday. The companies expect the deal to be completed by the end of the year.

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