Skip to main content

LogMeIn Acquires Password Management Software LastPass For $110 Million


With an increasing number of data breaches putting users’ personal information at risk, a company that helps online users better manage their account information with various websites and services, as well as help customers run security checks on their accounts, seems like it would have the potential for serious growth. That’s what remote access software maker LogMeIn is hoping, as the company announced this morning that it has acquired the password management software maker LastPass for $110 million in cash.
In addition, another $15 million in cash is available in contingent payments if LastPass meets certain milestone and retention targets over the two years following the deal’s close, LogMeIn also noted.
The deal is expected to close in the weeks ahead.
LastPass, a competitor with Dashlane, 1Password, and others, offered a suite of tools to help users stay safe online. Its core product is a password management software application that helps you create strong, secure passwords for the websites you visit as well as keep other private information in “secure notes.” A native desktop application for OS X, released earlier this year, introduced a “Security Check” tool that let users quickly scan all their passwords to see if they were secured properly.
The company also offers web browser extensions, and a mobile app.
Besides its consumer-facing, freemium products, LastPass offers an enterprise platform used by 15,000 businesses which could manage passwords on things like internal servers, devices and SaaS applications.
According to LogMeIn, the company was interested in LastPass because it believes it could help LogMeIn better position itself in the identity and access management market. The company, though still best-known for its remote access solutions, has been expanding into new lines of business over the years, including remote customer service tools, cloud storage and sync with Cubby, online backup, online meetings with Join.me, and more.
“Identity and Access management represents one of LogMeIn’s top three strategic growth initiatives, along with join.me in collaboration and Xively in the Internet of Things, so LastPass is a great fit for our near and long-term growth plans,” noted a LastPass spokesperson.
When the deal is complete, LogMeIn says it will integrate some of the capabilities of its early identity management investment, Meldium, which it acquired a little over a year ago, into LastPass. But in the near-term, both Meldium and LastPass will operate as separate products and continue to be supported. Meldium, which is a simple password manager for teams, is more focused on business use cases, instead of the consumer market. With this service, when a company hires a new employee, they’re automatically given access to all the online accounts that business uses, but without having to actually share passwords.
This is more complementary to LastPass’s enterprise product, which is likely going to be LogMeIn’s main focus.
LastPass founder Joe Siegrist will lead the development of LogMeIn’s Identity and Access Management product, following the deal’s close.
Founded in 2008, Fairfax, Virginia-based LastPass had 7 million users at the time of the acquisition, across both the consumer market and the enterprise. There are 30 employees at LastPass, and all have been offered positions at LogMeIn.

Comments

Popular posts from this blog

Best Web Design Company in Pondicherry

#Technology    has two faces. We all feel it, but sometimes can’t find words to describe it.  #Ebooks    are the best example to show the 0-1 nature of emotions the  #technology  evokes. #itwhere    provide a  #Best     #solutions    to  #Growyourbusiness    feel free to drop a  #Mail    info@itwheretech.co.in www.itwheretech.co.in 

How ad-free subscriptions could solve Facebook

At the core of Facebook’s “well-being” problem is that its business is directly coupled with total time spent on its apps. The more hours you pass on the social network, the more ads you see and click, the more money it earns. That puts its plan to make using Facebook healthier at odds with its finances, restricting how far it’s willing to go to protect us from the harms of over use. The advertising-supported model comes with some big benefits, though. Facebook CEO Mark Zuckerberg has repeatedly said that “We will always keep Facebook a free service for everyone.” Ads lets Facebook remain free for those who don’t want to pay, and more importantly, for those around the world who couldn’t afford to. Ads pay for Facebook to keep the lights on, research and develop new technologies, and profit handsomely in a way that attracts top talent and further investment. More affluent users with more buying power in markets like the US, UK, and Canada command higher ad prices, effectively

Phoenix OS is (another) Android-as-a-desktop

Google Android may have been developed as a smartphone operating system (and later ported to tablets, TVs, watches, and other platforms), but over the past few years we’ve seen a number of attempts to turn it into a desktop operating system. One of the most successful has been  Remix OS , which gives Android a taskbar, start menu, and an excellent window management system. The Remix OS team has also generated a lot of buzz over the past year, and this week the operating system gained a lot of new alpha testers thanks to a  downloadable version of Remix OS  that you can run on many recent desktop or notebook computers. But Remix OS isn’t the only game in town.  Phoenix OS  is another Android-as-desktop operating system, and while it’s still pretty rough around the edges, there are a few features that could make it a better option for some testers. Some background I first discovered Phoenix OS from  a post in the Remix OS Google Group , although I’ve also found mentions of th

HOW TO CREATE UEFI BOOTABLE USB DRIVE TO INSTALL WINDOWS 8/8.1

Before comes  Windows 8 and Windows 8.1  you made the bootable iso  for  Windows 7. Boot from USB and start to setup the Windows 7.  Windows 8/8.1  don’t include the traditional BIOS . They use UEFI firmware  so you must follow another way to create a bootable USB . If you interest to read what is UEFI  you can find a small description  here  and more details here . UEFI  is more secure and faster than traditional  BIOS  but here comes the problem when you try to boot from an iso file to install  Windows 8/8.1 . I have spent lot of hours until found the right way to boot from a USB to install  Windows 8/8.1 . As an IT when  Windows 8 realeased I download the iso,  create the bootable usb to start the installation but never boot.I change USB , download again the iso , create multiple times the bootable usb but every time the same results. After lot of search I understand that must create a  UEFI bootable USB  to start the installation of   Windows 8/8.1 . Follow I will exp

Windows 10 for phones will be released on this Friday

Microsoft's head of the Windows Insider program, Gabe Aul, has announced today on Windows Weekly that they will release a  new build of Windows 10 for phones  on Friday at 10 AM PT. Windows 10 release date A few weeks back, the company announced a new list of supported devices for the next release but for the version that will be released on Friday, the Lumia Icon and Lumia 930 will not be supported. Gabe said during the announcement that it came down to the new UI being too small on these devices and as such, will not be included in this release. List of supported devices Lumia 1020 Lumia 1320 Lumia 1520 Lumia 520 Lumia 525 Lumia 526 Lumia 530 Lumia 530 Dual Sim Lumia 535 Lumia 620 Lumia 625 Lumia 630 Lumia 630 Dual Sim Lumia 635 Lumia 636 Lumia 638 Lumia 720 Lumia 730 Lumia 730 Dual SIM Lumia 735 Lumia 810 Lumia 820 Lumia 822 Lumia 830 Lumia 920 Lumia 925 Lumia 928 Lumia ICON Microsoft Lumia 430 Microsoft Lumia 435 Microsoft Lumia 435 Dual SIM Microsoft Lumia 435 Dual SIM D