GoTo (US company) explained

GoTo (US company) should not be confused with GoTo (Indonesian company).

GoTo Technologies USA, Inc.
Former Name:
  • 3am Labs (2003–2006)
  • LogMeIn Inc. (2006–2022)
Type:Private
Industry:Computer software
Founded: in Budapest, Hungary
Hq Location City:Boston, Massachusetts
Hq Location Country:U.S.
Key People:
    Revenue: (2019)[1]
    Num Employees: (December 31, 2019)[2]
    Products:Cloud-based SaaS

    GoTo Technologies USA, Inc.,[3] formerly LogMeIn Inc.,[4] is a flexible-work provider of software as a service (SaaS) and cloud-based remote work tools for collaboration and IT management. 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]

    The rebranding to GoTo also announced the launch of a single application with two flagship products:

    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.[8] The deal closed on August 31, 2020.[9]

    History

    LogMeIn was founded in 2003 in Budapest as 3am Labs, and changed its name in 2006.[10]

    In 2006, 3am Labs acquired Hamachi VPN product.[11]

    LogMeIn, Inc., completed an initial public offering in 2009. Trading of LogMeIn, Inc., shares on the NASDAQ Global Market commenced on July 1, 2009.[12]

    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.[13] In May 2014, it added to this initiative by acquiring Ionia Corp., which specializes in integrating connected objects.[14]

    LogMeIn, Inc., acquired Bold Software, LLC, in 2012.[15] [16]

    The company abruptly discontinued LogMeIn Free on January 21, 2014, giving users only a seven-day grace period to migrate to LogMeIn Pro.[17]

    LogMeIn acquired Meldium for $15M in September 2014[18] and retired the Meldium product offering in July 2017.[19]

    On October 9, 2015, LogMeIn acquired LastPass for US$110 million.[20] [21] [22] [23] On December 14, 2021, the company announced that LastPass would spin off into its own cloud-based security company.[24] The spin-off was completed in May 2024.[25]

    In July 2016, LogMeIn announced in a merger with Citrix's GoTo products using a Reverse Morris Trust.[26]

    In February 2017, LogMeIn completed a merger with GetGo, the corporate spin-off of the GoTo product line from Citrix Systems.[27]

    In February 2018, the company announced the sale of Xively to Google for $50M.[28] Also in February 2018, the company announced the acquisition of Jive Communications for $342M.[29]

    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.[30]

    On February 2, 2022, LogMeIn was rebranded as GoTo,[31] restoring the original brand that ExpertCity created in 1998, before Citrix Systems acquired it in 2004.

    Products

    The company's products are focused on three business service areas, including unified communications and collaboration, Identity and access management, and customer engagement and support.[32] The products include:

    See also

    Notes and References

    1. Web site: LogMeIn Announces Fourth Quarter and Fiscal Year 2019 Results . LogMeIn. 2020-05-25.
    2. Web site: LogMeIn Fourth Quarter 2019 Supplemental Data Sheet. LogMeIn. December 31, 2019. May 26, 2020. June 21, 2020. https://web.archive.org/web/20200621174308/https://s2.q4cdn.com/247461878/files/doc_financials/2019/q4/LOGM-Q4-19-Supplemental-Data-Sheet_FINAL-%281%29.pdf. dead.
    3. Web site: Privacy Policy . GoTo . February 3, 2024.
    4. Web site: Announcing GoTo . GoTo.
    5. Web site: Business Summary.
    6. Web site: Announcing GoTo . GoTo.
    7. Web site: Announcing GoTo. 2022-02-02. GoTo.com Blog. en.
    8. Web site: Miller . Ron . 17 December 2019 . LogMeIn agrees to be acquired by Francisco Partners and Evergreen for $4.3B . 17 December 2019 . techcrunch.com . Techcrunch.
    9. 2020-08-31 . Francisco Partners and Evergreen Coast Capital Complete Acquisition of LogMeIn . 2020-10-06 . GlobeNewswire News Room.
    10. Web site: 2019-12-19. Budapest-founded startup LogMeIn valued at $4.3bn in acquisition deal. 2020-08-27. www.intellinews.com.
    11. https://secure.logmein.com/corp/pressrelease.asp?id=49 LogMeIn acquires instant VPN creator
    12. Web site: SEC Form 10-K . December 31, 2010 . 2013-01-08 . 2022-10-06 . https://web.archive.org/web/20221006065141/https://secfilings.nasdaq.com/edgar_conv_html%2F2011%2F02%2F28%2F0000950123-11-019803.html#FIS_BUSINESS . dead .
    13. Web site: LogMeIn acquires 'Internet of Things' Startup Pachube for $15m In Cash. Mike Butcher. . July 20, 2011.
    14. Web site: LogMeIn acquires Boston 'Internet of Things' firm for $12 million. BetaBoston. 2014-05-06 . 2014-05-06. Kyle. Alspach.
    15. Web site: LogMeIn LogMeIn Acquires Bold Software | LogMeIn . Investor.logmein.com . 2012-01-09 . 2014-02-20 . 2013-12-12 . https://web.archive.org/web/20131212010959/https://investor.logmein.com/releasedetail.cfm?ReleaseID=637782 . dead .
    16. Web site: LogMeIn Acquires Web Chat Company Bold Software For $16.5 M . TechCrunch . 2012-01-09 . 2014-02-20.
    17. Web site: FAQ about Changes to LogMeIn Free. January 24, 2014. https://web.archive.org/web/20140203034914/http://help.logmein.com/SelfServiceKnowledgeRenderer?type=FAQ&id=kA0a0000000shH8CAI. 2014-02-03.
    18. Web site: LogMeIn Acquires Meldium--Start Of The Identity Consolidation?. Ben. Kepes. Forbes. 13 May 2017.
    19. News: Plans to Retire Meldium. Meldium by LogMeIn. 2017-08-03. en-US. 2018-03-24. https://web.archive.org/web/20180324134235/http://blog.meldium.com/home/2017/4/12/plans-to-retire-meldium. dead.
    20. Web site: Brodkin . Jon . 9 October 2015 . LogMeIn buys LastPass password manager for $110 million . 14 December 2018 . . Condé Nast.
    21. Web site: Perez . Sarah . 9 October 2015 . LogMeIn Acquires Password Management Software LastPass For $110 Million . 14 December 2018 . . Oath Tech Network.
    22. Web site: October 9, 2015 . LogMeIn to Acquire Password Management Leader LastPass . 14 December 2018 . LogMeIn, Inc..
    23. Web site: October 9, 2015 . LastPass Joins the LogMeIn Family . 14 December 2018 . LastPass.
    24. Web site: LogMeIn Set to Establish LastPass as an Independent Cloud Security Company Amid Strong Market Demand . 2022-02-02 . www.logmein.com . en.
    25. Web site: Davis . Wes . May 1, 2024 . LastPass goes independent over a year after serious breaches . The Verge.
    26. LogMeIn Announces Merger with Citrix's GoTo Family of Products to Create Billion Dollar Industry Leader. 26 July 2016. GlobeNewswire. July 26, 2016
    27. News: 2017-02-01 . BRIEF-Citrix completes spin-off and merger of Goto family of service offerings with Logmein . Reuters . 2017-02-02.
    28. News: Google to acquire Xively IoT platform from LogMeIn for $50M. February 15, 2018. TechCrunch. Ron Miller.
    29. News: Gagliordi. Natalie. LogMeIn buys Jive Communications for $342 million. en. ZDNet. 2018-02-08.
    30. Francisco Partners and Evergreen Coast Capital Complete Acquisition of LogMeIn . August 31, 2020 . . NASDAQ.
    31. LogMeIn Rebrands as GoTo with a New Application Combining Support and Communications Solutions, New Products, and a New Partner Network. 2 February 2022.
    32. Web site: Company Overview of LogMeIn, Inc.. Bloomberg. October 1, 2017.
    33. Web site: Cloud Phone System & Virtual Meeting Platform | GoTo Connect .
    34. Web site: How to Backup and Restore Hamachi Client Configuration - Hamachi Support . 2024-07-14 . support.logmeininc.com . en.

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