Trend Micro to buy cloud storage provider Humyo
Company eyes acquisition as way to provide its customers with secure online backup, recovery, and file synchronization.
Trend Micro has signed a deal to acquire Humyo, an online storage and file synchronization provider.
As a security company, Trend Micro sees the acquisition as a way to offer its customers secure, cloud-based storage. Humyo provides an online storage center through which people can automatically back up and synchronize data from their PCs, Macs, smartphones, and other connected devices.
As more people tap into the cloud to store and access their files, Trend Micro said Friday that integrating Humyo will help fill a growing need for data security for individuals and small business customers. The acquisition will also give Humyo's users greater access to a range of security options and developing new features, according to Tokyo-based Trend Micro.
Based in Leeds, England, Humyo has just over 20 employees, but it services more than 700,000 individual users, according to the company's blog. Thinking about his next move, Humyo co-founder Dan Conlon said that a third venture-capital round would have given the company a lot of cash. But he said he found the Trend Micro offer a better option because it not only brings in investment but also offers an experienced staff to help reach more customers.
"The growth in mobile devices, iPad, and Internet-enabled televisions means people want access to what they want, when they want it, and on whatever device they have with them," Conlon said in a statement. "Online storage with synchronization makes that happen."
Financial terms of the deal were not disclosed.