View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Leadership
  2. Strategy
December 17, 2019

Private Equity Funds Swoop on LogMeIn in $4.3 Billion Cash Deal

Company has been pushing into IDaaS space...

By CBR Staff Writer

LogMeIn, a NASDAQ-listed remote access software specialist, has agreed to a $4.3 billion private equity buyout, a decade after first going public.

The Boston-based company names Vodafone, the London School of Economics, Nissan and Zero Motorcycles among its existing customer base.

The company offers a range of SaaS-based tools under including video conferencing (“GoToMeeting”) and identity and access management (“Lastpass”).

Francisco Partners and activist hedge fund Elliott Management‘s private equity arm will pay LogMeIn shareholders $86.05/share in cash.

That’s a 25 percent premium on its closing  to its closing price on Sept. 18, the last trading day before a media report on the sale.

“LogMeIn has a compelling product portfolio and leadership in the Unified Communications and Collaboration, Identity, and Digital Engagement markets,” said Andrew Kowal, a senior partner at Francisco Partners.

“We look forward to working with Bill and the leadership team at LogMeIn to accelerate growth and product investment organically and inorganically.”

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

“We have deep appreciation for the LogMeIn franchise and leadership team from our long-term involvement in the business,” added Elliott Partner Jesse Cohn and Portfolio Manager Jason Genrich in a company note shared Tuesday.

The transaction is expected to close in mid-2020.

LogMeIn’s 2018 annual report shows that LastPass was its fastest growing product inits portfolio and the company said it was keen to push from remote access tools to a more comprehensive Identity-as-a-Service (IDaaS) offering.

Read this: UK’s Sophos Accepts £3.1 Billion Cash Offer


Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.