LogMeIn

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LogMeIn, Inc.
Public
Traded as NASDAQLOGM
S&P 400 Component
Industry Computer software
Founded Budapest, Hungary (2003)
Headquarters Boston, Massachusetts, USA
Key people
William (Bill) Wagner (President & CEO)
Edward Herdiech (CFO)
Sean Ford (CMO)
Chris Battles (CPO)
Larry D'Angelo (SVP Sales)
Sandor Palfy (CTO)
Michael Donahue (SVP General Counsel)
Rob Lawrence (SVP Corporate Strategy)
Jo Deal (Chief Human Resources Officer)[1]
Products Cloud-based SaaS
Revenue $1.024 billion (2017) [2]
Number of employees
2,778 (June 30, 2017)[3]
Website logmeininc.com

LogMeIn, Inc. is a provider of software as a service and cloud-based remote connectivity services for collaboration, IT management and customer engagement, founded in 2003 and based in Boston, Massachusetts.[4] The company's products give users and administrators access to remote computers.

In October 2015, LogMeIn bought the password manager solution LastPass.[citation needed] In February 2017, LogMeIn completed a merger with GetGo, the corporate spin-off of the GoTo product line from Citrix Systems.[5]

The company is part of the S&P 400 stock market index and has forecast annual revenue of more than $1 billion in 2017.[6]

Products[edit]

The company's products are focused on three business areas, including Communications & Collaboration services, Identity & Access Management services, and Customer engagement & support services.[7] The products include:

  • LogMeIn Pro – subscription-based remote access and administration software
  • LogMeIn Centralweb application focused on IT management for remotely managing PCs and servers running on Windows or Mac OS X operating systems
  • LogMeIn Rescue – remote support (help desk) web application used by large contact centers and help desks for diagnosing and troubleshooting computers, smartphones and tablets.[8]
  • LogMeIn Hamachi – network virtualization and VPN service
  • LogMeIn Backup – remote backup software
  • Jive - Hosted PBX telephone service[9]
  • join.me – a freemium meeting and online collaboration software
  • RemotelyAnywhereremote access and administration software
  • Bold360 – a live chat and customer engagement service solution used by thousands of retail, financial services, manufacturing, software, and telecommunications organizations[10]
  • LastPass[11]
  • GoToAssist[5]
  • GoToMeeting
  • GoToMyPC
  • GoToTraining
  • OpenVoice
  • GoToWebinar
  • Grasshopper[12]
  • Nanorep[13]

Company history[edit]

The company was formerly known as 3am Labs, Inc., before March 2006.

The company's CEO Michael Simon and CTO Márton Anka collaborated at Uproar, an Internet game site eventually bought by Vivendi Universal at the height of the dot-com bubble.[14][15] Anka's work for Uproar allegedly laid the foundation for his RemotelyAnywhere application, which later evolved into LogMeIn after 3am Labs incorporated.[14]

3am Labs acquired the Hamachi VPN product.[16]

LogMeIn, Inc., changed its name from 3am Labs in 2006.[17]

Tridia sued LogMeIn, Inc., for patent infringement in January 2008.[18][19]

LogMeIn, Inc., completed an IPO in 2009. Trading of LogMeIn, Inc., shares on the NASDAQ Global Market commenced on July 1, 2009.[20]

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.[21] In May 2014, it added to this initiative by acquiring Ionia Corp., which specializes in integrating connected objects.[22]

LogMeIn, Inc., acquired Bold Software, LLC in 2012.[23][24]

LogMeIn acquired Meldium for $15 Million in September 2014[25] and retired the Meldium product offering in July 2017.[26]

In July 2015, LogMeIn launched a new product named "Rescue Lens" designed for providing video-assisted customer support using a camera on the client's iOS or Android device. This allows a customer support representative to join a live feed in order to remotely work on technical issues reported by the customer by seeing the physical product as if it was in front of them.[27]

LogMeIn acquired LastPass for $110 Million in October 2015.[11][28]

LogMeIn announced in July 2016 a merger with Citrix's GoTo Family of Products via a Reverse Morris Trust.[29]

In July 2017, the company announced they acquired Israel-based software company Nanorep for a reported $45 million dollars and then an additional $5 million in contingent cash for high-performing employees who would continue with LogMeIn for the next two years post the closure of the transaction.[30][31] Nanorep makes customer service software that uses artificial intelligence and chatbots to make more intuitive and engaging customer service.[32]

In February 2018, the company announced the sale of Xively to Google for $50 million.[33]

In February 2018, the company announced the acquisition of Jive Communications for $342 million dollars.[9]

See also[edit]

References[edit]

  1. ^ "Leadership". LogMeIn. Retrieved 16 November 2017. 
  2. ^ "LogMeIn Announces Fourth Quarter and Fiscal-Year-2017 Results". Globe News Wire. Retrieved 2017-02-28. 
  3. ^ "Form 10-Q LogMeIn" (PDF). SEC.gov. June 30, 2017. 
  4. ^ "Business Summary". 
  5. ^ a b "BRIEF-Citrix completes spin-off and merger of Goto family of service offerings with Logmein". Reuters. 2017-02-01. Retrieved 2017-02-02. 
  6. ^ "LogMeIn Inc". Financial Times. September 22, 2017. 
  7. ^ "Company Overview of LogMeIn, Inc". Bloomberg. October 1, 2017. 
  8. ^ "Log me in 123 Remote Support". Remote Support. 
  9. ^ a b Gagliordi, Natalie. "LogMeIn buys Jive Communications for $342 million | ZDNet". ZDNet. Retrieved 2018-02-08. 
  10. ^ "LogMeIn Makes Digital Customer Service Smarter; Takes Aim at CRM Market with Introduction of Bold360". GlobeNewswire. June 8, 2017. 
  11. ^ a b "LogMeIn to Acquire Password Management Leader LastPass". LogMeIn, Inc. October 9, 2015. Retrieved January 5, 2017. 
  12. ^ "LogMeIn Announces Merger with Citrix's GoTo Family of Products to Create Billion Dollar Industry Leader". GlobeNewswire. July 26, 2016. 
  13. ^ Jeff Engel (August 1, 2017). "LogMeIn to Buy Israeli A.I. Company Nanorep for $45M". Xconomy. 
  14. ^ a b Soule, Alexander (2004-09-20). "Budapest startup, 90 jobs coming to Woburn". 
  15. ^ 10:43, 7 Feb 2001 at; tweet_btn(), Drew Cullen. "Vivendi buys Uproar games site". Retrieved 13 May 2017. 
  16. ^ https://secure.logmein.com/corp/pressrelease.asp?id=49 LogMeIn acquires instant VPN creator Archived October 14, 2007, at the Wayback Machine.
  17. ^ https://secure.logmein.com/corp/pressrelease.asp?id=39 Article mentions LogMeIn name change
  18. ^ "LOGMEIN, INC, Form S-1/A, Securities Registration Statement (S-1/A) regarding patent case, Filing Date Mar 7, 2008". secdatabase.com. Retrieved May 15, 2018. 
  19. ^ "Tridia patent complaint and demand for jury trial" (PDF). Retrieved 13 May 2017. 
  20. ^ "SEC Form 10-K". December 31, 2010. 
  21. ^ Mike Butcher (July 20, 2011). "LogMeIn acquires 'Internet of Things' Startup Pachube for $15m In Cash". TechCrunch. 
  22. ^ Alspach, Kyle (2014-05-06). "LogMeIn acquires Boston 'Internet of Things' firm for $12 million". BetaBoston. Retrieved 2014-05-06. 
  23. ^ "LogMeIn LogMeIn Acquires Bold Software | LogMeIn". Investor.logmein.com. 2012-01-09. Retrieved 2014-02-20. 
  24. ^ "LogMeIn Acquires Web Chat Company Bold Software For $16.5 M". TechCrunch. 2012-01-09. Retrieved 2014-02-20. 
  25. ^ Kepes, Ben. "LogMeIn Acquires Meldium--Start Of The Identity Consolidation?". Retrieved 13 May 2017. 
  26. ^ "Plans to Retire Meldium". Meldium by LogMeIn. Retrieved 2017-08-03. 
  27. ^ https://techcrunch.com/2015/03/24/logmeins-rescue-lens-lets-customer-support-reps-see-the-problem-through-your-smartphones-camera/
  28. ^ "LastPass Joins the LogMeIn Family". LastPass. October 9, 2015. Retrieved January 5, 2017. 
  29. ^ "LogMeIn Announces Merger with Citrix's GoTo Family of Products to Create Billion Dollar Industry Leader". GlobeNewswire.  July 26, 2016
  30. ^ Lunden, Ingrid. "LogMeIn acquires chatbot and AI startup Nanorep for up to $50M". TechCrunch. Retrieved 2017-11-20. 
  31. ^ https://www.martechadvisor.com/news/events-webinars/logmein-acquires-nanorep-a-chatbot-and-ai-tools-vendor/
  32. ^ Harris, David L. (2017-08-01). "LogMeIn buys Israeli AI startup for $45M". Boston Business Journal. Retrieved 2017-08-02. 
  33. ^ Ron Miller (February 15, 2018). "Google to acquire Xively IoT platform from LogMeIn for $50M". TechCrunch.