**Editor's Note: Please click here for a recap of the biggest channel-impacting mergers in Q2 2014.**
LogMeIn on Thursday announced its $15 million acquisition of Meldium, a San Francisco-based provider of intuitive, single-sign-on (SSO) password management, and identity and access-management solutions.
LogMeIn says the buy expands its IT portfolio with an SSO offering while introducing a natural extension of the identity, cloud app and device-management capabilities in its other IT management products.
Meldium 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.
"Cloud apps and the bring-your-own-app trend – BYOA – have forced IT professionals to rethink how they manage identities, employee access and data security. SSO is rapidly emerging as an effective means of addressing these security and identity management challenges, and Meldium has created what we believe is one of the most elegant, intuitive SSO solutions on the market today," said Michael Simon, CEO of LogMeIn.
The full Meldium team is expected to join LogMeIn and will remain based in San Francisco.
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