Well, that didn’t take long. Less than two months after graduating from the Microsoft Windows Azure accelerator, Bellevue-based MetricsHub has been acquired by … Microsoft.

Terms of the deal were not disclosed.

It is the first acquisition of a company from the Windows Azure accelerator program, which was formed last year in conjunction with TechStars to jumpstart new startups utilizing Microsoft’s cloud services. MetricsHub, founded by former Microsoft engineer Charles Lamanna, is a cloud monitoring service with built-in incident detection.

“As an innovator in Active Cloud Monitoring, a technology that automates cloud performance management, MetricsHub helps customers more efficiently manage their cloud services at a lower cost,” said Microsoft corporate vice president Bob Kelly in a blog post. “Cloud solutions are compelling for a variety of reasons – scale, flexibility and value – particularly for companies looking to do more with less. However, it’s difficult to understand, monitor and correlate all the application data points that tell you how and when you need to scale your application.”

As part of the deal, MetricsHub announced that it would make its premium service available to Windows Azure customers for free.

“We will also be converting all paying customers to this no-charge version of the service and MetricsHub technology will continue to keep your cloud applications running,” the company wrote in a blog post.

Like other TechStars’ programs, participants receive $20,000 in startup financing in addition to office space and mentorship during a three month bootcamp.