Silicon Valley based Box.net, a cloud storage and document sharing startup, has acquired Increo Solutions, the makers of the Backboard and embedit.in products. Both startups share an investor, Draper Fisher Jurvetson.
The deal was briefly announced today on the Increo blog and then deleted. But a Box.net page talking about the acquisition remains live. The acquisition was closed in August.
I spoke to Box.net CEO Aaron Levie briefly about the acquisition. He says the key reason they acquired Increo is to integrate the collaboration and annotation functionality from Backboard. Increo’s underlying technology for displaying documents on websites is also attractive to Box.net.
The size of the transaction is not being disclosed, although Levie says it is a mix of cash and stock. Increo Solutions has raised just $500,000 in venture capital. Box.net has raised $12.5 million.