Secure enterprise password and account management. (acquired by LogMeIn NASDAQ: LOGM)
LogMeIn, a company that provides remote connectivity solutions to businesses and individuals, announced today that it has acquired Meldium, a Y-Combinator alum that specializes in single-sign on and other identity management services. Publicly traded LogMeIn says it is paying $15 million in the deal for BBA, the name under which Meldium is incorporated. The price includes both a cash payment and a performance and retention-based earn out.
Meldium is a YC-incubated venture that helps small businesses securely share access to various apps. Using the tool, companies can let its workers auto-login to the commonly used apps. Meldium is a great replacement for the use of spreadsheet, which is used to record all log-in details and is shared among workers without much safety.