LogMeIn acquires 'Internet of Things' Startup Pachube for $15m In Cash

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LogMeIn, which lets you remotely control computers and mobiles, has acquired Pachube, a UK startup which is building software for sensor-enabled devices or the legendary “Internet of Things”. The $15 million purchase is all cash. We understand the team is staying on.

Pachube networks appliances, environmental sensors, cars and personal health monitors – you name it, this is a market set to explode over the next few years. Michael Simon, CEO of LogMeIn said the purchase will extend its Gravity platform into smart embedded devices.

Pachube’s realtime monitoring platform means users send more than seven million datapoints to the service each day. Founder, Usman Haque said “we are in a strong position to bring our shared vision for the Internet of Things to fruition.”

It’s also another “win” for a company based in the ‘Silicon Rounadabout’ area of London which the UK government is trying to re-brand internationally as “TechCity”.