Private equity firms Francisco Partners and Evergreen Coast Capital have acquired software firm LogMeIn for $ 4.3 billion.
“This transaction acknowledges the significant value of LogMeIn and provides our stockholders with a meaningful and certain cash offer at a compelling premium,” said Bill Wagner, President and Chief Executive Officer of LogMeIn.
He added, “We believe our partnership with Francisco Partners and Evergreen will help put us in a position to deliver the operational benefits needed to achieve sustained growth over the long term.”
The acquisition is expected to close in mid-2020, subject to customary closing conditions, including the receipt of stockholder and regulatory approvals.