LogMeIn sells to private equity firms for $4.3 billion
.jpg)
LogMeIn, Inc., a leading provider of cloud-based connectivity, have this week announced that it has entered into a definitive agreement (or the “Agreement”) to be acquired in a transaction led by affiliates of Francisco Partners, a leading technology-focused global private equity firm, and including Evergreen Coast Capital Corporation (“Evergreen”), the private equity affiliate of Elliott Management Corporation (“Elliott”), for $86.05 per share in cash. The all-cash transaction values LogMeIn at an aggregate equity value of approximately $4.3 billion.
Under the terms of the Agreement, LogMeIn shareholders will receive $86.05 in cash for each share of LogMeIn’s common stock they hold. This consideration represents a premium of approximately 25% to LogMeIn’s unaffected closing stock price on September 18, 2019, the last trading day before a media report was published speculating about a potential sale process. The Board of Directors of LogMeIn approved the Agreement and recommended that shareholders vote in favor of the transaction.
“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. “Together, Francisco Partners and Evergreen are committed to addressing the unique needs of both our core and growth assets. 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.”
“LogMeIn has a compelling product portfolio and leadership in the Unified Communications and Collaboration, Identity, and Digital Engagement markets,” said Andrew Kowal, Senior Partner at Francisco Partners. “We look forward to working with Bill and the leadership team at LogMeIn to accelerate growth and product investment organically and inorganically.”
“This investment builds on the strength of our infrastructure and security software franchise and we are thrilled to partner with the company to achieve its long-term strategic vision,” added Dipanjan “DJ” Deb, co-founder and CEO of Francisco Partners.
“We have deep appreciation for the LogMeIn franchise and leadership team from our long-term involvement in the business,” said Elliott Partner Jesse Cohn and Portfolio Manager Jason Genrich. “We look forward to partnering with Bill and the entire executive leadership team alongside Francisco Partners on the next phase of growth and value creation for LogMeIn as a private company.”
Christine Wang, Principal at Francisco Partners also commented, "We are excited to invest in LogMeIn and support its mission to deliver best-in-class software solutions to the modern workforce.”
The transaction is expected to close in mid-2020, subject to customary closing conditions, including the receipt of stockholder and regulatory approvals.
The definitive agreement for the transaction includes a customary 45-day “go-shop” period which permits LogMeIn and its advisors to actively solicit alternative acquisition proposals, and potentially enter negotiations with other parties that make alternative acquisition proposals. LogMeIn will have the right to terminate the definitive agreement to accept a superior proposal subject to the terms and conditions of the definitive agreement. There can be no assurance that this process will result in a superior proposal, and LogMeIn does not intend to disclose developments with respect to the solicitation process unless and until its Board of Directors makes a determination requiring further disclosure.
Qatalyst Partners and J.P. Morgan Securities LLC are acting as financial advisors to LogMeIn, and Latham & Watkins LLP is serving as the company’s legal advisor.
Mizuho Bank, Ltd. is acting as lead financial advisor and Barclays, Deutsche Bank Securities, Jefferies LLC, and RBC Capital Markets are acting as co-financial advisors to Francisco Partners and Evergreen with Paul Hastings LLP, Kirkland & Ellis LLP, and Gibson, Dunn & Crutcher LLP serving as legal advisors. Barclays, RBC Capital Markets, Deutsche Bank Securities, Jefferies Finance LLC, and Mizuho Bank, Ltd. have provided committed debt financing for the transaction.
source logmeininc
Industry: Unified Communications
Latest Jobs
-
- Senior SOC Analyst Level 3. Microsoft Security stack | Ability to achieve SC Clearance
- London
- To attract the right person
-
Job Title: Senior SOC Analyst Level 3. Microsoft Security stack | Ability to achieve SC Clearance Location: Hybrid remote | London / Berkshire Overview: Senior SOC Analyst Level 3 to join a specialist Managed Security Services business. You will be responsible for advanced threat hunting / triage, incident response etc with a strong focus on the Microsoft Security Stack. Key Responsibilities: Lead and resolve complex security incidents / escalations Conduct advanced threat hunting using the Microsoft Security Stack. Build, optimise and maintain workbooks, rules, analytics etc. Correlate data across Microsoft 365 Defender, Azure Defender and Sentinel. Perform root cause analysis and post-incident reporting. Aid in mentoring and upskilling Level 1 and 2 SOC analysts. Required Skills & Experience: The ability to achieve UK Security Clearance (SC) – existing clearance ideal. (Sorry no visa applications) Current experience working with a SOC environment Microsoft Sentinel: Development and tuning of custom analytic rules. Workbook creation and dashboarding. Automation using Playbooks and SOAR integration. Kusto Query Language (KQL): Writing complex, efficient queries for advanced threat hunting and detection. Correlating data across key tables (e.g., SignInLogs, SecurityEvent, OfficeActivity, DeviceEvents). Developing custom detection rules, optimising performance, and reducing false positives. Supporting Sentinel Workbooks, Alerts, and Playbooks through advanced KQL use. Deep understanding of incident response, threat intelligence and adversary techniques (MITRE ATT&CK framework). Strong knowledge of cloud and hybrid security, particularly within Azure. Additional Requirements: Must hold or be eligible to achieve a minimum of Security Clearance (SC) level. Nice to have certifications (e.g., SC-200, AZ-500, GIAC) are desirable. Strong problem-solving and analytical skills. Excellent communication for clear documentation and team collaboration. Please follow Wheaton’s Law.
-
- New Business Sales Hunter | Cyber Security (UK Based)
- London
- To attract the right person
-
New Business Sales Hunter needed | Cybersecurity (UK Based) Are you looking for uncapped commission, a fun and sociable team that drives success with no politics? If so...You must Be UK based - and able to achieve UK SC clearance. (sorry no visas) Have a demonstrable history of sales success in Cyber Security Follow Weatons law. The role: Seeking a proven New Business Sales Hunter to join an established, successful and expanding cyber security firm. New business focused - £1m GP year one target (ramped). Sell a blend of security services & professional services. Ideal experience selling some or all of the following Cyber strategy & risk management Managed detection & response (MDR) Penetration testing Compliance & audit support You: Strong cybersecurity/IT services sales track record. Confident selling into mid-market & enterprise. UK based - London commutable 1x per week. Hunter mindset, full sales cycle ownership. Don't just send an email to apply give me a call on 07884666351
-
- CyberArk Architect
- London
- Upto £110,000 plus bonus and benefits
-
Are you ready to lead from the front and drive innovation in the Identity & Access Management (IAM) space? We’re looking for a seasoned CyberArk Architect who has CDE-CPC ideally or experience with privilege Cloud, someone who can lead with vision, execute with precision, and inspire teams to deliver excellence. As a key leader in our organisation, you’ll bring your strong business acumen and a technology-focused, innovative mindset to the table. You’ll be driving strategic initiatives, shaping transformation programs, and empowering teams to think big and deliver even bigger. Acting as a subject matter expert in CyberArk Leading strategic transformations in: Identity Governance Privileged Access Management (PAM) Access Management Customer Identity and Access Management (CIAM) Building and maintaining strong, collaborative relationships within the team Communicating clearly and confidently — both written and verbal — to deliver updates, raise potential issues, and share insights If you are interested in the above position we are looking for people with: deep expertise and a successful track record in IAM strategy, delivery, or assurance with CyberArk Hold relevant certifications such as CDE in Privileged Cloud or Guardian Have experience in a client-facing role (preferred, but not essential) Thrive in a hybrid working environment and are available to work from our or client London office three days a week Lead with clarity, communicate with impact, and adapt quickly to changing priorities
-
- Identity & Access Management Architect
- Edinburgh
- Upto £95000 plus bonus and benefits
-
Location: Edinburgh | Hybrid Working | Permanent Are you an experienced Identity & Access Management professional with a passion for designing and implementing cutting-edge security solutions? We are looking for a Lead Architect, where you’ll play a key role in helping clients enhance their IAM capabilities, protect critical data, and navigate complex security challenges. About the Role As a Lead Architect, you will be responsible for shaping and delivering IAM strategies, designing robust security solutions, and driving long-term digital transformation. You’ll leverage your expertise to provide strategic guidance on areas such as: Identity Governance & Administration (IGA) Privileged Access Management (PAM) Access Management (AM) Entitlement Management Directories & Authentication Solutions You will have the opportunity to work with innovative technologies and frameworks, ensuring that businesses can securely manage access to critical assets while enabling growth. What You’ll Be Doing Providing subject matter expertise in IAM and leading transformation projects for clients Developing IAM roadmaps, operating models, and governance frameworks Driving innovation by integrating IAM capabilities into wider digital transformation strategies Building and maintaining strong relationships with clients and stakeholders Designing and implementing scalable IAM solutions to meet business needs What We’re Looking For Proven experience in IAM strategy, solution architecture, or assurance Strong leadership skills with experience guiding technical teams Ability to work in a client-facing role, delivering clear communication and insights A technology-focused, innovative mindset with strong business acumen Willingness to work from our Edinburgh office 2-3 days per week