ITAMChannel is a hub of coverage for all the latest news and views within the IT Asset Management Industry

Flexera acquires software startup backed by Mark Cuban

SHARE
,

Flexera, the Itasca, Illinois-based software company that makes buying and selling software more transparent, secure and effective, has acquired Austin-based Meta Saas, a move the tech company says will give it an edge over other software asset management suppliers.

Meta SaaS, which helps companies manage software subscriptions, closed a $1.5 million seed round last year led by “Shark Tank” investor Mark Cuban. As part of the acquisition, Meta SaaS will be rebranded as Flexera SaaS Manager, the companies announced Wednesday.

Exact terms of the deal were not disclosed, but the new assets from the acquisition will allow Flexera’s customers to identify more than 32,000 SaaS applications and easily manage them through easy-to-read reports. Additionally, Flexera will be able to monitor license utilization for more than 6,200 of those SaaS applications.

Flexera wouldn’t disclose what will happen to Meta SaaS’ current employees and offices in Austin as a result of the acquisition.

“As in any acquisition, we’ll be looking at staffing and make decisions in the coming weeks and months based on the needs of the combined organization,” said Tom Canning, vice president of strategy at Flexera, in an emailed statement to Chicago Inno.

Flexera, founded in 2008, counts Fortune 500 companies like Adobe, Best Buy and Ford among its clients. Within the last few years, Flexera has acquired other data and software companies, such as BDNA, Palamida and Secunia.

“The number of SaaS apps in use is skyrocketing—especially among small and mid-size companies. As much as a third of those applications aren’t even being used,” Canning said. “And because companies can’t see or manage SaaS apps in use across the enterprise, cost and risk are out of control. We’re now able to help customers rein in SaaS spend on more than 32,000 SaaS applications—vastly exceeding the capabilities of any other SAM supplier.”

Meta SaaS was founded in 2016 by Arlo Gilbert and Scott Hertel after Gilbert saw an opportunity to help companies save money by identifying underutilized and abandoned software subscriptions. The startup’s clients include several major Austin tech companies, including RetailMeNot, Spredfast, Indeed, BenefitMall and Civitas Learning.

“We’re thrilled to be acquired by Flexera because of their superior solutions and leadership in the SAM industry,” Gilbert said in a statement. “No other SAM vendor comes close to Flexera’s vision and ability to execute.”