Logmein Merger Agreement

LogMeIn, a leading provider of cloud-based connectivity and collaboration solutions, recently announced that it has entered into a merger agreement with a private equity firm, Francisco Partners, and an affiliate of Evergreen Coast Capital Corporation. This merger agreement is an important milestone for both LogMeIn and its new partners, as it will help to accelerate LogMeIn`s growth and enable it to provide even more innovative solutions to its customers.

Under the terms of the agreement, LogMeIn shareholders will receive $86.05 per share in cash, which represents a premium of approximately 25% based on the closing price of LogMeIn`s shares on December 17, 2019. The total value of the transaction is approximately $4.3 billion, including net debt.

The merger agreement is subject to customary closing conditions, including the receipt of regulatory approvals and the approval of LogMeIn`s shareholders. The transaction is expected to close in mid-2020, after which LogMeIn will become a wholly-owned subsidiary of a new holding company that will be controlled by Francisco Partners and Evergreen Coast Capital.

Francisco Partners is a leading global private equity firm that specializes in investing in technology and technology-enabled businesses. The firm has a long track record of partnering with management teams to build market-leading companies, and it is known for its operational expertise and strategic vision. Evergreen Coast Capital is the technology-focused private equity arm of Elliott Management Corporation, a leading investment firm with more than $40 billion in assets under management.

LogMeIn`s CEO, Bill Wagner, expressed excitement about the merger agreement, stating that it will enable the company to “accelerate our overall growth, our ability to invest in our products and our long-term strategy.” He added that the new partners will provide “additional resources and expertise that will help us to unlock even more value for our customers and shareholders.”

The merger agreement is expected to have a positive impact on LogMeIn`s employees, customers, and partners. LogMeIn will remain headquartered in Boston, Massachusetts, and its management team will continue to lead the company. The company`s product portfolio, which includes popular solutions such as GoToMeeting, LastPass, and Bold360, will also remain unchanged.

In summary, the LogMeIn merger agreement with Francisco Partners and Evergreen Coast Capital represents a significant development for the cloud-based connectivity and collaboration solutions provider. The partnership will help to accelerate LogMeIn`s growth and enable it to provide even more innovative solutions to its customers. With the backing of experienced private equity firms, LogMeIn is well-positioned to achieve its long-term goals and deliver value to its shareholders.