LogMeIn, Inc. (Nasdaq:LOGM) today announced the acquisition of San Francisco-based Meldium (incorporated as BBA, Inc.), a provider of intuitive single-sign-on (SSO), password management, and identity and access management (IAM) solutions. The acquisition immediately expands LogMeIn's popular IT portfolio with an elegant SSO offering, while introducing a natural extension of the identity, cloud app, and device management capabilities in its other IT management products. As a result, the deal is expected to build upon and accelerate LogMeIn's strategic initiative of empowering IT professionals to embrace, manage, and secure today's cloud-centric, consumerized, workplace.
Meldium, a venture-backed startup and Y Combinator alum, is focused on helping companies manage access to the rapidly growing number of cloud apps used in the workplace, specifically addressing the security risks that often arise from employees' poor password practices. The company offers a simple, secure way for teams and entire companies to manage passwords and accounts for popular business and personal cloud applications – apps that are most often introduced by individual employees or line-of-business workers. The company's namesake SSO product offers seamless access to nearly 1500 of today's most popular apps, including the likes of Dropbox, Google Apps, Hubspot, WordPress, Zendesk, Salesforce, Asana, Trello, Evernote, JIRA, and Rackspace. READ MORE