LogMeIn

LogMeIn, Inc.
Public
Traded as NASDAQ: LOGM
S&P 400 Component
Industry Computer software
Founded Budapest, Hungary (2003)
Headquarters Boston, Massachusetts, USA
Key people
 William (Bill) Wagner (President & CEO)
Edward Herdiech (CFO)
Sean Ford (CMO)
Matt Kaplan (CPO)
Larry D'Angelo (SVP Sales)
Sandor Palfy (CTO)
Michael Donahue (SVP General Counsel)
Rob Lawerence (SVP Corporate Strategy)
Timothy "TJ" Ewing (VP Global Operations)
Products Cloud-based SaaS
Revenue $336.1 million (2016)[1]
Number of employees
 1,006 (end of 2015)[1]
Website LogMeInInc.com

LogMeIn, Inc. (NASDAQ: LOGM), founded in 2003 and based in Boston, Massachusetts, is a provider of software as a service and cloud-based remote connectivity services for collaboration, IT management and customer engagement.[2] The company's products give users and administrators access to remote computers.

In October 2015, LogMeIn bought the password manager solution LastPass. On July 26, 2016, a press release announced that LogMeIn was merging with the Citrix Online "GoTo" family of collaboration products. The combined company would be headquartered in Boston, Massachusetts, and would be led by the current CEO and CFO of LogMeIn.[3][4] The merger was completed on January 31st, 2017.

Products

The company's products are focused on four business areas, including Collaboration services, IT Management services, Customer support services, and Internet of Things services. The products include:

Technology

LogMeIn remote access products use a proprietary remote desktop protocol that is transmitted via SSL. An SSL certificate is created for each remote desktop and is used to cryptographically secure communications between the remote desktop and the accessing computer.[7]

Users access remote desktops using either the LogMeIn Ignition stand-alone application or a web portal. The web portal requires either an ActiveX plugin for Internet Explorer, or an extension for Firefox (the LogMeIn plug-in for Firefox), or an extension for Safari (the LogMeIn plug-in for Safari), or a plugin for Google Chrome.[8] Failing that it falls back to requiring Java in order to run a Java program,[9] and failing that it falls back to "a screen-shot-based HTML remote control".[10] The web portal also provides status information for the remote computers and, optionally, remote computer management functions.

The service connects the remote desktop and the local computer using SSL over TCP or UDP and utilizing NAT traversal techniques to achieve peer-to-peer connectivity when available.[7][11][12]

Company history

The company was formerly known as 3am Labs, Inc. before March 2006. As of December 31, 2012, the Company serves over 213 million Internet-enabled devices, like smartphones and tablets. There are five data centers operating in the company, four in the United States and one in Europe.[2]

The company's CEO Michael Simon and CTO Márton Anka collaborated at Uproar, an Internet game site eventually bought by Vivendi Universal at the height of the dot-com bubble.[13][14] Anka's work for Uproar allegedly laid the foundation for his RemotelyAnywhere application, which later evolved into LogMeIn after 3am Labs incorporated.[13]

3am Labs acquired the Hamachi VPN product.[15]

LogMeIn, Inc., changed its name from 3am Labs in 2006.[16]

Tridia sued LogMeIn, Inc. for patent infringement in January 2008.[17][18]

LogMeIn, Inc., completed an IPO in 2009. Trading of LogMeIn, Inc. shares on the NASDAQ Global Market commenced on July 1, 2009.[19]

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.[20] In May 2014, it added to this initiative by acquiring Ionia Corp., which specializes in integrating connected objects.[21]

LogMeIn, Inc., acquired Bold Software, LLC in 2012.[22][23]

LogMeIn acquired Meldium for $15 Million in September 2014[24] and retired the Meldium product offering in July 2017[25].

LogMeIn acquired LastPass for $110 Million in October 2015.[6][26]

LogMeIn announced in July 2016 a merger with Citrix's GoTo Family of Products via a Reverse Morris Trust.[3]

In July 2017, the company announced they acquired Israel-based software company Nanorep for a reported $45 million dollars. Nanorep makes customer service software that uses artificial intelligence and chatbots to make more intuitive and engaging customer service.[27]

See also

References

  1. 1 2 "LogMeIn Announces Fourth Quarter and Fiscal Year 2016 Results". Globe News Wire. Retrieved 2017-02-28.
  2. 1 2 "Business Summary".
  3. 1 2 "LogMeIn Announces Merger with Citrix's GoTo Family of Products to Create Billion Dollar Industry Leader". GlobeNewswire. July 26, 2016
  4. 1 2 "BRIEF-Citrix completes spin-off and merger of Goto family of service offerings with Logmein". Reuters. 2017-02-01. Retrieved 2017-02-02.
  5. ↑ Perez, Sarah (December 17, 2012). "LogMeIn's Dropbox Competitor Cubby Reveals Pricing; Stays Competitive At $7 Per Month For 100 GB". Tech Crunch. Retrieved December 30, 2012.
  6. 1 2 "LogMeIn to Acquire Password Management Leader LastPass". LogMeIn, Inc. October 9, 2015. Retrieved January 5, 2017.
  7. 1 2 "LogMeIn, An In-Depth Look, Whitepaper" (PDF). Retrieved 13 May 2017.
  8. ↑ "The LogMeIn plugin for Chrome (Windows) is here!". Retrieved 2013-02-27.
  9. ↑ "Install the LogMeIn plug-in for Firefox". Retrieved 2010-10-21.
  10. ↑ "FireFox 3.5 Logmein plugin reports no ActiveX or Java controls installed. Defaulting to HTML view.". Retrieved 2010-10-21.
  11. ↑ Software maker targets remote access market
  12. ↑ "SSPA Recognized Innovators Fall 2006". 17 May 2014. Retrieved 13 May 2017.
  13. 1 2 Soule, Alexander (2004-09-20). "Budapest startup, 90 jobs coming to Woburn".
  14. ↑ 10:43, 7 Feb 2001 at; tweet_btn(), Drew Cullen. "Vivendi buys Uproar games site". Retrieved 13 May 2017.
  15. ↑ https://secure.logmein.com/corp/pressrelease.asp?id=49 LogMeIn acquires instant VPN creator Archived October 14, 2007, at the Wayback Machine.
  16. ↑ https://secure.logmein.com/corp/pressrelease.asp?id=39 Article mentions LogMeIn name change
  17. ↑ http://sec.edgar-online.com/2008/03/07/0000950135-08-001656/Section22.asp LOGMEIN, INC. Securities Registration Statement (S-1/A) regarding patent case
  18. ↑ "Tridia patent complaint and demand for jury trial" (PDF). Retrieved 13 May 2017.
  19. ↑ "SEC Form 10-K". December 31, 2010.
  20. ↑ Mike Butcher (July 20, 2011). "LogMeIn acquires 'Internet of Things' Startup Pachube for $15m In Cash". TechCrunch.
  21. ↑ Alspach, Kyle (2014-05-06). "LogMeIn acquires Boston 'Internet of Things' firm for $12 million". BetaBoston. Retrieved 2014-05-06.
  22. ↑ "LogMeIn LogMeIn Acquires Bold Software | LogMeIn". Investor.logmein.com. 2012-01-09. Retrieved 2014-02-20.
  23. ↑ "LogMeIn Acquires Web Chat Company Bold Software For $16.5 M". TechCrunch. 2012-01-09. Retrieved 2014-02-20.
  24. ↑ Kepes, Ben. "LogMeIn Acquires Meldium--Start Of The Identity Consolidation?". Retrieved 13 May 2017.
  25. ↑ "Plans to Retire Meldium". Meldium by LogMeIn. Retrieved 2017-08-03.
  26. ↑ "LastPass Joins the LogMeIn Family". LastPass. October 9, 2015. Retrieved January 5, 2017.
  27. ↑ Harris, David L. (2017-08-01). "LogMeIn buys Israeli AI startup for $45M". Boston Business Journal. Retrieved 2017-08-02.
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