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.
