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.