Remote Work Collaboration Platform and Zoom Competitor LogMeIn Acquired
LogMeIn, Inc., a leading provider of cloud services for the work-from-anywhere economy, announced the completion of its sale to affiliates of Francisco Partners and Evergreen Coast Capital, the private equity affiliate of Elliott Management Corporation, in a transaction valued at an aggregate equity valuation of approximately $4.3 billion.
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Founded 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.
Today we embark on a new journey as a private company to better help our customers embrace the new work-from-anywhere economy. Read more about the deal: https://t.co/Uvzkf9nqwr pic.twitter.com/7RPlcDT350
— LogMeIn, Inc. (@LogMeIn) August 31, 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.
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The go-private transaction was previously announced on December 17, 2019 and received approval from LogMeIn stockholders on March 12, 2020. 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.
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