GoTo Technologies USA, Inc.,[3] formerly LogMeIn Inc.,[4] is a software as a service (SaaS) company that provides unified communication and IT management software. The company was founded in 2003, and is based in Boston, Massachusetts.[5] On February 2, 2022, the company was rebranded from LogMeIn to GoTo.[6]
On December 17, 2019, LogMeIn announced an agreement to be sold for $4.3 billion to Francisco Partners and Evergreen Coast Capital Corp., which is a private equity affiliate of Elliott Management Corporation.[9] The deal closed on August 31, 2020.[10]In 2022, GoTo announced the purchase of Mobile Device Management (MDM) company Miradore.[11]
History
Logo as of 2007Former logo before the rebranding
LogMeIn was founded in 2003 in Budapest as 3am Labs, and changed its name in 2006.[12]
In 2006, 3am Labs acquired Hamachi VPN product.[13]
LogMeIn, Inc., completed an initial public offering in 2009. Trading of LogMeIn, Inc., shares on the NASDAQ Global Market commenced on July 1, 2009.[14]
In 2011, the company began a move into cloud services for the Internet of things by acquiring Pachube, which would later become the Xively service.[15] In May 2014, it added to this initiative by acquiring Ionia Corp., which specializes in integrating connected objects.[16]
LogMeIn, Inc., acquired Bold Software, LLC, in 2012.[17][18]
The company abruptly discontinued LogMeIn Free on January 21, 2014, giving users only a seven-day grace period to migrate to LogMeIn Pro.[19]
LogMeIn acquired Meldium for $15M in September 2014[20] and retired the Meldium product offering in July 2017.[21]
On October 9, 2015, LogMeIn acquired LastPass for US$110 million.[22][23][24][25] On December 14, 2021, the company announced that LastPass would spin off into its own cloud-based security company.[26] The spin-off was completed in May 2024.[27]
In July 2016, LogMeIn announced in a merger with Citrix's GoTo products using a Reverse Morris Trust.[28]
In February 2018, the company announced the sale of Xively to Google for $50M.[30] Also in February 2018, the company announced the acquisition of Jive Communications for $342M.[31]
On August 31, 2020, Elliott Management Corporation, by its affiliate Evergreen Coast Capital, and Francisco Partners completed their acquisition of LogMeIn, and LogMeIn's stock was delisted from NASDAQ.[32]
On February 2, 2022, LogMeIn was rebranded as GoTo,[33] restoring the original brand that ExpertCity created in 1998, before Citrix Systems acquired it in 2004.
Products
The company's product portfolio is split into two business units; unified communications and collaboration, and IT management & support.[34]The products include:
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