Francisco Partners and Evergreen Coast Capital complete acquisition of LogMeIn
Francisco Partners and Evergreen Coast Capital (Evergreen), the private equity affiliate of Elliott Management Corporation (Elliott), have completed their acquisition of cloud services provider LogMeIn in a transaction valued at an aggregate equity valuation of approximately USD4.3 billion.
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, 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.
The go-private transaction was previously announced on 17 December, 2019 and received approval from LogMeIn stockholders on 12 March, 2020. As a result of the completion of the transaction, LogMeIn stockholders received USD86.05 per share in cash, and LogMeIn’s common stock will cease to trade on the Nasdaq exchange.