Just over a year since it took the wraps off its first product, UK cloud software startup SaaSID has been acquired by US hosting provider Intermedia for an undisclosed sum.
UK startups in sectors such as cloud and security have a habit of being bought but SaaSID's swallowing by the larger firm is still rapid by most standards; SaaSID launched its first software in May 2012.
SaaSID makes possible cloud single sign-on (SSO) access, management and security for web applications such as Google Apps, Salesforce, Office365, Facebook and Twitter that were originally designed for consumer use.
Founded in 1995, Intermedia offers a suite of cloud services, including some from third-parties, all of which will now be able to offer single sign-on convenience. It is one of the world's largest Exchange hosted providers.
It is understood that SaaSID's 25-person team will be retained with the current Bristol and Basingstoke offices, with founder Ed Macnair retained as EMEA managing director for the combined operation. Sources said that that a meeting with Intermedia's developers next week would cover product integration.
The US firm had made SaasID a "great offer" in a deal brokered through the startup's seed investors and advised by Rupert Cook of Realise Capital Partners.
"SaaSID was founded to enable businesses to fully benefit from using cloud-based services more broadly while increasing security," said former SaaSID CEO and new managing director EMEA, Ed Macnair.
"Our single sign-on and cloud application control software is the perfect fit for all of Intermedia's customers. SaaSID's customers will immediately gain from the resources and expertise of a global organisation like Intermedia, as well as its 'worry-free' support model."
An integrated Intermedia and SaasID service will be offered from early 2014, the firms said.
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