Obviously, these investment firms see bookoo mounds of money by acquiring LogMeIn for just under four times its annual revenues. As a result of the completion of the transaction, LogMeIn stockholders received $86.05 per share in cash, and LogMeIn's common stock will cease to trade on the Nasdaq exchange. The go-private transaction was previously announced on Decemand received approval from LogMeIn stockholders on March 12, 2020. Today, the company's comprehensive work-from-anywhere portfolio makes LogMeIn a preferred and trusted partner for helping millions of customers connect and collaborate from anywhere support employees and customers from anywhere manage assets from anywhere and secure their digital identities in an increasingly virtual world. LogMeIn, Inc., a leading provider of cloud services for the work-from-anywhere economy, today announced the completion of its sale to affiliates of Francisco Partners and Evergreen Coast Capital ('Evergreen'), the private equity affiliate of Elliott Management Corporation ('Elliott'), in a transaction valued at an aggregate equity valuation of approximately $4.3 billion.įounded in 2003, LogMeIn is a pioneer in remote work technologies and the maker of market-defining products like LastPass, GoToConnect, GoToMeeting, GoToMyPC, Rescue and its namesake LogMeIn remote access and remote management products. The latest figures put LogMeIn's annual revenues around $1.3 billion (U.S.) per year, has around 3,500 employees, and approximately 200 million users across the globe.īelow is an excerpt from the press release from Globe Newswire about the sale. purchased LastPass for $110 million (U.S.), and added it to their software offerings.įast forward to December 2019, when two private investment capital firms teamed up to purchase LogMeIn for a reported $4.3 billion (U.S.).

LastPass and Xmarks ran concurrently, until Xmarks was shut down on May 1, 2018.

It later expanded to help manage the many unique passwords users were supposed to be creating when logging into websites.

In 2006, Xmarks (formerly Foxmarks) was created as a bookmark synchronizer for Firefox users. Over the years, it created such familiar cloud-based programs such as GoToMeeting, GoToConnect, GoToMyPC, Rescue, and of course, the namesake LogMeIn. that didn't take long! To explain what I mean, we'll have to dive head first into some fairly recent history.īack in 2003, a company was created.

Lastpass to bitwarden