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LogMeIn, Inc.
Private
IndustryComputer software
Founded2003; 17 years ago in Boston, Massachusetts
Headquarters
Boston, Massachusetts
,
Key people
Bill Wagner (President & CEO)
Products
Revenue$1.262 billion (2019) [1]
3,974 (December 31, 2019)[2]
Websitelogmeininc.com
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LogMeIn, Inc. is a provider of software as a service and cloud-based remote work tools for collaboration, IT management and customer engagement, founded in 2003 and based in Boston, Massachusetts.[3] The company's products give users and administrators access to remote computers.

On October 9, 2015, LogMeIn acquired LastPass for $110 million.[4][5][6][7]

In February 2017, LogMeIn completed a merger with GetGo, the corporate spin-off of the GoTo product line from Citrix Systems.[8]

On December 17, 2019, LogMeIn announced an agreement to be sold for $4.3 billion to Francisco Partners and Evergreen Coast Capital Corp., which is a private equity affiliate of Elliot Management Corp.[9] The deal closed on August 31, 2020[10].

The company was part of the S&P 400 stock market index and has forecast annual revenue of more than $1 billion in 2017.[11]

Products[edit]

The company's products are focused on three business areas, including Unified Communications & Collaboration services, Identity & Access Management services, and Customer engagement & support services.[12] The products include:

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  • GoTo UCC Products
    • GoToWebinar
    • GoToTraining
    • GoToConnect (formerly Jive Communications)
    • GoToRoom
    • OpenVoice
    • Grasshopper
    • join.me
  • Engagement & Support Products
    • LogMeIn Rescue – remote support (help desk) web application used by large contact centers and help desks for diagnosing and troubleshooting computers, smartphones and tablets.
    • Rescue Live Lens
    • Rescue Live Guide
    • Bold360 – a live chat and customer engagement service solution[buzzword] that is used by retail, financial services, manufacturing, software, and telecommunications organizations[13]
    • GoToAssist[8]
  • Identity & Access Products
    • LastPass – password manager[6]
    • LogMeIn Pro – subscription-based remote access and administration software[citation needed]
    • LogMeIn Central – web application focused on IT management for remotely managing PCs and servers running on Windows or Mac OS X operating systems[citation needed]
    • LogMeIn Hamachi – network virtualization and VPN service[citation needed]
    • LogMeIn Backup – remote backup software[citation needed]
    • RemotelyAnywhere – remote access and administration software

Company history[edit]

LogMeIn was founded in 2003 in Budapest as 3am Labs, and changed its name in 2006.[14]

3am Labs acquired the Hamachi VPN product.[15]

Tridia sued LogMeIn, Inc., for patent infringement in January 2008.[16][17]

LogMeIn, Inc., completed an IPO in 2009. Trading of LogMeIn, Inc., shares on the NASDAQ Global Market commenced on July 1, 2009.[18]

In 2011, the company began a move into cloud services for the Internet of Things by acquiring Pachube, which would later become the Xively service.[19] In May 2014, it added to this initiative by acquiring Ionia Corp., which specializes in integrating connected objects.[20]

LogMeIn, Inc., acquired Bold Software, LLC in 2012.[21][22]

LogMeIn acquired Meldium for $15 Million in September 2014[23] and retired the Meldium product offering in July 2017.[24]

In July 2015, LogMeIn launched a new product named 'Rescue Lens' designed for providing video-assisted customer support using a camera on the client's iOS or Android device. This allows a customer support representative to join a live feed in order to remotely work on technical issues reported by the customer by seeing the physical product as if it was in front of them.[25]

LogMeIn acquired LastPass for $110 Million on October 9, 2015.[4][5][6][7]

LogMeIn announced in July 2016 a merger with Citrix's GoTo Family of Products via a Reverse Morris Trust.[26]

In July 2017, the company announced they acquired Israel-based software company Nanorep for a reported $45 million and then an additional $5 million in contingent cash for high-performing employees who would continue with LogMeIn for the next two years post the closure of the transaction.[27][28] Nanorep makes customer service software that uses artificial intelligence and chatbots to make more intuitive and engaging customer service.[29]

In February 2018, the company announced the sale of Xively to Google for $50 million.[30]

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In February 2018, the company announced the acquisition of Jive Communications for $342 million.[31]

On August 31, 2020 the company's acquisition by affiliates of the Elliott Management Corporation was completed and its stock delisted from the NASDAQ.[32]

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See also[edit]

References[edit]

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  1. ^'LogMeIn Announces Fourth Quarter and Fiscal Year 2019 Results'. LogMeIn. Retrieved 2020-05-25.
  2. ^'LogMeIn Fourth Quarter 2019 Supplemental Data Sheet'(PDF). LogMeIn. December 31, 2019.
  3. ^'Business Summary'.
  4. ^ abBrodkin, Jon (9 October 2015). 'LogMeIn buys LastPass password manager for $110 million'. Ars Technica. Condé Nast. Retrieved 14 December 2018.
  5. ^ abPerez, Sarah (9 October 2015). 'LogMeIn Acquires Password Management Software LastPass For $110 Million'. TechCrunch. Oath Tech Network. Retrieved 14 December 2018.
  6. ^ abc'LogMeIn to Acquire Password Management Leader LastPass'. LogMeIn, Inc. October 9, 2015. Retrieved 14 December 2018.
  7. ^ ab'LastPass Joins the LogMeIn Family'. LastPass. October 9, 2015. Retrieved 14 December 2018.
  8. ^ ab'BRIEF-Citrix completes spin-off and merger of Goto family of service offerings with Logmein'. Reuters. 2017-02-01. Retrieved 2017-02-02.
  9. ^Miller, Ron. 'LogMeIn agrees to be acquired by Francisco Partners and Evergreen for $4.3B'. techcrunch.com. Techcrunch. Retrieved 17 December 2019.
  10. ^Inc, LogMeIn (2020-08-31). 'Francisco Partners and Evergreen Coast Capital Complete Acquisition of LogMeIn'. GlobeNewswire News Room. Retrieved 2020-10-06.
  11. ^'LogMeIn Inc'. Financial Times. September 22, 2017.
  12. ^'Company Overview of LogMeIn, Inc'. Bloomberg. October 1, 2017.
  13. ^'LogMeIn Makes Digital Customer Service Smarter; Takes Aim at CRM Market with Introduction of Bold360'. GlobeNewswire. June 8, 2017.
  14. ^'Budapest-founded startup LogMeIn valued at $4.3bn in acquisition deal'. www.intellinews.com. 2019-12-19. Retrieved 2020-08-27.
  15. ^https://secure.logmein.com/corp/pressrelease.asp?id=49 LogMeIn acquires instant VPN creator Archived October 14, 2007, at the Wayback Machine
  16. ^'LOGMEIN, INC, Form S-1/A, Securities Registration Statement (S-1/A) regarding patent case, Filing Date Mar 7, 2008'. secdatabase.com. Retrieved May 15, 2018.
  17. ^'Tridia patent complaint and demand for jury trial'(PDF). Retrieved 13 May 2017.
  18. ^'SEC Form 10-K'. December 31, 2010.
  19. ^Mike Butcher (July 20, 2011). 'LogMeIn acquires 'Internet of Things' Startup Pachube for $15m In Cash'. TechCrunch.
  20. ^Alspach, Kyle (2014-05-06). 'LogMeIn acquires Boston 'Internet of Things' firm for $12 million'. BetaBoston. Retrieved 2014-05-06.
  21. ^'LogMeIn LogMeIn Acquires Bold Software | LogMeIn'. Investor.logmein.com. 2012-01-09. Retrieved 2014-02-20.
  22. ^'LogMeIn Acquires Web Chat Company Bold Software For $16.5 M'. TechCrunch. 2012-01-09. Retrieved 2014-02-20.
  23. ^Kepes, Ben. 'LogMeIn Acquires Meldium--Start Of The Identity Consolidation?'. Retrieved 13 May 2017.
  24. ^'Plans to Retire Meldium'. Meldium by LogMeIn. Retrieved 2017-08-03.
  25. ^https://techcrunch.com/2015/03/24/logmeins-rescue-lens-lets-customer-support-reps-see-the-problem-through-your-smartphones-camera/
  26. ^'LogMeIn Announces Merger with Citrix's GoTo Family of Products to Create Billion Dollar Industry Leader'. GlobeNewswire. July 26, 2016
  27. ^Lunden, Ingrid. 'LogMeIn acquires chatbot and AI startup Nanorep for up to $50M'. TechCrunch. Retrieved 2017-11-20.
  28. ^https://www.martechadvisor.com/news/events-webinars/logmein-acquires-nanorep-a-chatbot-and-ai-tools-vendor/
  29. ^Harris, David L. (2017-08-01). 'LogMeIn buys Israeli AI startup for $45M'. Boston Business Journal. Retrieved 2017-08-02.
  30. ^Ron Miller (February 15, 2018). 'Google to acquire Xively IoT platform from LogMeIn for $50M'. TechCrunch.
  31. ^Gagliordi, Natalie. 'LogMeIn buys Jive Communications for $342 million | ZDNet'. ZDNet. Retrieved 2018-02-08.
  32. ^'Francisco Partners and Evergreen Coast Capital Complete Acquisition of LogMeIn' (Press release). NASDAQ. Globe Newswire. August 31, 2020.

External links[edit]

  • Business data for LogMeIn, Inc.:

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