Home Latest News LogMeIn acquired by private equity firms for $4.3bn

LogMeIn acquired by private equity firms for $4.3bn

by CIO AXIS

Private equity firms Francisco Partners and Evergreen Coast Capital have acquired software firm LogMeIn for $ 4.3 billion.

“This transaction acknowledges the significant value of LogMeIn and provides our stockholders with a meaningful and certain cash offer at a compelling premium,” said Bill Wagner, President and Chief Executive Officer of LogMeIn.

He added, “We believe our partnership with Francisco Partners and Evergreen will help put us in a position to deliver the operational benefits needed to achieve sustained growth over the long term.”

The acquisition is expected to close in mid-2020, subject to customary closing conditions, including the receipt of stockholder and regulatory approvals.

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