Francisco Partners and Evergreen Coast Capital Complete Acquisition of LogMeIn
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.
About LogMeIn: LogMeIn, Inc.’s category-defining products unlock the potential of the modern workforce by making it possible for millions of people and businesses around the globe to do their best work simply and securely—on any device, from any location and at any time. A pioneer in remote work technology and a driving force behind today’s work-from-anywhere movement, LogMeIn has become one of the world’s largest SaaS companies with tens of millions of active users, more than 3,500 global employees, over $1.3 billion in annual revenue and approximately 2 million customers worldwide who use its software as an essential part of their daily lives.