LogMeIn acquires Silicon Roundabout start-up Pachube

Silicon Roundabout start-up Pachube has been acquired by US-based LogMeIn for $15 million (£9.2 million) in cash a year after public release.

The cloud solutions provider has completed the acquisition of the Pachube service and all other assets of Connected Environments.

Pachube is a web service that provides real-time monitoring and management of any type of connected device.

Users can connect their devices and sensors to its service to publish data and to receive data and information from other devices.

Michael Simon, CEO of LogMeIn, says, ‘We believe the volume of devices coming online and the amount of data they will generate will dwarf the internet as we know it today.

He adds that the investment ‘extends our Gravity platform for scalable, secure connectivity and storage into the universe of smart and embedded devices’.

Pachube founder Usman Haque created the prototype in 2008 and released Pachube to the public in 2010.

Haque says, ‘We believe uniting the Pachube and LogMeIn teams, who have an expertise in building both large-scale user communities and the secure platforms to support them, will accelerate the growth of Pachube’s global community, introduce Pachube to new people and markets and enable companies to develop products that leverage our services.’

Simon continues, ‘The Pachube team has a deep understanding of the technical challenges and opportunities that this phenomenon represents, and we believe they’ve built a service that will change the way people interact with their devices, their environment and each other.’

Individuals, developers and other silicon roundabout businesses have used Pachube to create applications, services and products that leverage the data created by the connected devices.

LogMeIn is based on Massachusetts in the US, and has offices in Australia, Hungary, Japan, the Netherlands and the UK.

Todd Cardy

Todd Cardy

Todd was Editor of GrowthBusiness.co.uk between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital.

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