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EU/US: LogMeIn to be taken private after $4.3B buy

 |  December 18, 2019

Enterprise software company LogMeIn is the latest company gobbled up by private equity in a US$4.3 billion exit that reflects the growing interest of cash-rich PE firms in New England companies.

Francisco Partners and Evergreen agreed to pay US$86.05 per share, in cash, for LogMeIn which offers a range of cloud-based connectivity services.

LogMeIn noted that the purchase price reflects a premium of about 25% over LogMeInʼs closing stock price on September 18, 2019, the last trading day before a media report was published speculating about a potential sales process.

LogMeInʼs board approved the agreement with Francisco Partners and Evergreen and recommended that shareholders vote in favor of the transaction.

The transaction is expected to close in mid-2020, subject to shareholder approval and regulatory clearance.

Full Content: Biz Journals

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