LogMeIn Buys Ionia For $12M
LogMeIn announced today that it has acquired Ionia, a company that specializes in leveraging the Internet of Things for businesses. Ionia will be integrated with Xively, LogMeIn’s own suite of IoT cloud services.
The deal is worth $12 million, Xconomy reports.
Both Xively and Ionia have worked with a number of customers in the biotech and healthcare research industries, among others. One example is New England Biolabs, which is using Xively’s technology to build a network of Internet-connected freezers for storing biological materials such as enzymes. Researchers can keep track of what’s in stock, communicate with the warehouse, and place orders remotely.
In a statement, LogMeIn CEO Michael Simon said that businesses are quickly adopting large-scale IoT solutions, and that Ionia’s expertise would help Xively meet rising demand.