wonderfully unique software solutions

LogMeIn buyout plan by Francisco Partners and Evergreen Coast Capital approved

Shareholders have given the nod to the acquisition of LogMeIn – the vendor of GoToConnect, GoToMeeting, GoToMyPC and other collaborative comms and remote working solutions – by a group of investors led by US-based Francisco Partners.

An investor announcement released by Nasdaq-listed LogMeIn (LOGM), a vendor of cloud-based connectivity software, reported that Francisco Partners, a technology-focused global private equity firm, and Evergreen Coast Capital, the private equity affiliate of Elliott Management Corporation, would acquire the firm in a merger agrement.

Shareholders controlling around 74% of LogMeIn shares, expected to change hands for $86.05 a share at the time of writing, approved the deal 12 March in the US. The deal is expected to close mid-2020.

LogMeIn has developed a product portfolio that make it today one of the world’s top 10 public SaaS companies as well as a market leader in unified communications and collaboration, identity and access management, and customer engagement and support solutions.

LogMeIn is headquartered in Boston, Massachusetts with additional locations in North America, South America, Europe, Asia and Australia.

Investors are asked to contact Rob.Bradley@LogMeIn.com or John Moore at press@franciscopartners.com for more information.

Recent Articles

Access to edtech one of four keys to schooling success

A survey by learning management system (LMS) vendor Instructure has confirmed four socio-economic factors as critical when it comes to the learning...

People still rely on myths about password security, warns Keeper

Popular misconceptions around passwords and their security could be holding workers back from achieving correct password hygiene for a solid cybersecurity posture,...

Stormshield partners deliver cybersecurity with sovereignty for ministry of defence

A decade of a national defence ministry's collaboration with Europe-based cybersecurity provider Stormshield has delivered cybersecurity improvements, without adding risk of information...

Octopus Deploy deprecates Server authentication, certifies with HashiCorp

Devops-focused config management company Octopus Deploy has rounded off November with a trio of updates -- affecting Octopus Server developers, HashiCorp Vault...

SolarWinds and HCL expand enterprise AI for IT ops partnership

Infrastructure applications vendor SolarWinds and HCL Software are expanding their work together delivering enterprise AI and ITops management offerings.

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Weirdware monthly - Get the latest news in your inbox