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LogMeIn for Sale?: Private Equity Buyout Rumors

LogMeIn could be acquired by a private equity firm and taken private, according to StreetInsider. Potential suitors for LogMeIn, an IT management software company, include Francisco Partners and Thoma Bravo, the report says.

LogMeIn’s cloud-based software portfolio spans unified communications and collaboration, identity and access management, and customer engagement and support solutions. The company acquired Citrix Systems’ GoTo business in a $1.8 billion deal back in 2016.

For LogMeIn’s third quarter of 2019:

  • Revenue was $316.9 million, up 2.5 percent compared to Q3 of 2018.
  • Net income was $5.1 million, down from $12.7 million compared to Q3 2018.

LogMeIn’s market cap is $3.954 billion according to Yahoo Finance as of Monday, November 18.

LogMeIn: Private Equity Suitors?

Thoma Bravo already owns 1.26 million LogMeIn shares, StreetInsider notes, and the private equity firm has deep expertise in the IT management and remote control software markets. Key software company names in the Thoma Bravo portfolio include Barracuda, Centrify, ConnectWise (parent of Continuum), LogRhythm and SolarWinds.

Francisco Partners, meanwhile, owns such identity, IT management, access management and security businesses as Quest, One Identity, SonicWall and Watchguard, among other names to know.

LogMeIn has not commented about the rumored private equity discussions, and ChannelE2E has not independently confirmed the StreetInsider report.

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1 Comment

Comment

    Larry Doyle:

    Stopped using LogMeIn when they priced themselves out of the market with ludicrous renewals and even worse then offering 80% discounts to renew
    An obvious ploy to present over inflated revenue figures to potential investors

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