Thursday, 02 February 2017 10:18

LogMeIn completes GoTo merger

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The merger of LogMeIn and former Citrix subsidiary GetGo has been completed.

A US$1.8 billion merger agreement was announced in July 2016 between LogMeIn and the GetGo subsidiary that was created to house Citrix's GoTo business .

The deal closed after hours on 31 January, US time.

It was structured to give Citrix shareholders approximately 50.1% of the combined company and existing LogMeIn shareholders approximately 49.9%.

The merger makes LogMeIn one of the world's top 10 public SaaS companies in terms of revenue. The enlarged company predicts its 2017 revenue will exceed US$1 billion.

As a result of the merger, LogMeIn's product portfolio will include BoldChat, GoToAssist, GoToMeeting, GoToMyPC, GoToTraining, GoToWebinar, Grasshopper, join.me, LastPass, LogMeIn Rescue, and OpenVoice.

"Between LogMeIn and GoTo we have two of the best known, most trusted and reliable product portfolios in cloud connectivity, and both companies have been remarkable success stories," said LogMeIn president Bill Wagner, who retained his position.

"Today we start an exciting new chapter together as a clear leader that has the scale, innovation and vision to reset customer, employee and shareholder expectations, while redefining our core markets."

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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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