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GoTo (US company)

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Not to be confused with GoTo (Indonesian company).
For other uses, see Goto (disambiguation).
GoTo Technologies USA, Inc.
Formerly
  • 3am Labs (2003–2006)
  • LogMeIn Inc. (2006–2022)
Company typePrivate
IndustryComputer software
Founded2003; 21 years ago (2003) in Budapest, Hungary
Headquarters
Boston, Massachusetts
,
U.S.
Key people
  • Rich Veldran (CEO)
  • Olga Lagunova (CPTO)
ProductsCloud-based SaaS
RevenueUS$1.262 billion (2019)[1]
Owners
Number of employees
3,974 (December 31, 2019)[2]
Websitegoto.com

GoTo Technologies USA, Inc.,[3] formerly LogMeIn Inc.,[4] is a flexible-work provider of software as a service (SaaS) and cloud-based remote work tools for collaboration and IT management. The company was founded in 2003, and is based in Boston, Massachusetts.[5] On February 2, 2022 the company was rebranded from LogMeIn to GoTo.[6]

The rebranding to GoTo also announced the launch of a single application with two flagship products:

  • GoTo Resolve for IT management and
  • GoTo Connect for a collaboration application.[7]

On December 17, 2019, LogMeIn announced an agreement to be sold for $4.3 billion to Francisco Partners and Evergreen Coast Capital Corp., which is a private equity affiliate of Elliott Management Corporation.[8] The deal closed on August 31, 2020.[9]

History

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Former logo before the rebranding

LogMeIn was founded in 2003 in Budapest as 3am Labs, and changed its name in 2006.[10]

In 2006, 3am Labs acquired Hamachi VPN product.[11]

LogMeIn, Inc., completed an initial public offering in 2009. Trading of LogMeIn, Inc., shares on the NASDAQ Global Market commenced on July 1, 2009.[12]

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.[13] In May 2014, it added to this initiative by acquiring Ionia Corp., which specializes in integrating connected objects.[14]

LogMeIn, Inc., acquired Bold Software, LLC, in 2012.[15][16]

The company abruptly discontinued LogMeIn Free on January 21, 2014, giving users only a seven-day grace period to migrate to LogMeIn Pro.[17]

LogMeIn acquired Meldium for $15M in September 2014[18] and retired the Meldium product offering in July 2017.[19]

On October 9, 2015, LogMeIn acquired LastPass for US$110 million.[20][21][22][23] On December 14, 2021, the company announced that LastPass would spin off into its own cloud-based security company.[24] The spin-off was completed in May 2024.[25]

In July 2016, LogMeIn announced in a merger with Citrix's GoTo products using a Reverse Morris Trust.[26]

In February 2017, LogMeIn completed a merger with GetGo, the corporate spin-off of the GoTo product line from Citrix Systems.[27]

In February 2018, the company announced the sale of Xively to Google for $50M.[28] Also in February 2018, the company announced the acquisition of Jive Communications for $342M.[29]

On August 31, 2020, Elliott Management Corporation, by its affiliate Evergreen Coast Capital, and Francisco Partners completed their acquisition of LogMeIn, and LogMeIn's stock was delisted from NASDAQ.[30]

On February 2, 2022, LogMeIn was rebranded as GoTo,[31] restoring the original brand that ExpertCity created in 1998, before Citrix Systems acquired it in 2004.

Products

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The company's products are focused on three business service areas, including unified communications and collaboration, Identity and access management, and customer engagement and support.[32] The products include:

See also

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References

[edit]
  1. ^ "LogMeIn Announces Fourth Quarter and Fiscal Year 2019 Results". LogMeIn. Retrieved 2020-05-25.
  2. ^ "LogMeIn Fourth Quarter 2019 Supplemental Data Sheet" (PDF). LogMeIn. December 31, 2019. Archived from the original (PDF) on June 21, 2020. Retrieved May 26, 2020.
  3. ^ "Privacy Policy". GoTo. Retrieved February 3, 2024.
  4. ^ "Announcing GoTo". GoTo.
  5. ^ "Business Summary".
  6. ^ "Announcing GoTo". GoTo.
  7. ^ "Announcing GoTo". GoTo.com Blog. Retrieved 2022-02-02.
  8. ^ Miller, Ron (17 December 2019). "LogMeIn agrees to be acquired by Francisco Partners and Evergreen for $4.3B". techcrunch.com. Techcrunch. Retrieved 17 December 2019.
  9. ^ "Francisco Partners and Evergreen Coast Capital Complete Acquisition of LogMeIn". GlobeNewswire News Room (Press release). 2020-08-31. Retrieved 2020-10-06.
  10. ^ "Budapest-founded startup LogMeIn valued at $4.3bn in acquisition deal". www.intellinews.com. 2019-12-19. Retrieved 2020-08-27.
  11. ^ https://secure.logmein.com/corp/pressrelease.asp?id=49 LogMeIn acquires instant VPN creator Archived October 14, 2007, at the Wayback Machine
  12. ^ "SEC Form 10-K". December 31, 2010. Archived from the original on 2022-10-06. Retrieved 2013-01-08.
  13. ^ Mike Butcher (July 20, 2011). "LogMeIn acquires 'Internet of Things' Startup Pachube for $15m In Cash". TechCrunch.
  14. ^ Alspach, Kyle (2014-05-06). "LogMeIn acquires Boston 'Internet of Things' firm for $12 million". BetaBoston. Retrieved 2014-05-06.
  15. ^ "LogMeIn LogMeIn Acquires Bold Software | LogMeIn". Investor.logmein.com. 2012-01-09. Archived from the original on 2013-12-12. Retrieved 2014-02-20.
  16. ^ "LogMeIn Acquires Web Chat Company Bold Software For $16.5 M". TechCrunch. 2012-01-09. Retrieved 2014-02-20.
  17. ^ "FAQ about Changes to LogMeIn Free". January 24, 2014. Archived from the original on 2014-02-03.
  18. ^ Kepes, Ben. "LogMeIn Acquires Meldium--Start Of The Identity Consolidation?". Forbes. Retrieved 13 May 2017.
  19. ^ "Plans to Retire Meldium". Meldium by LogMeIn. Archived from the original on 2018-03-24. Retrieved 2017-08-03.
  20. ^ Brodkin, Jon (9 October 2015). "LogMeIn buys LastPass password manager for $110 million". Ars Technica. Condé Nast. Retrieved 14 December 2018.
  21. ^ Perez, Sarah (9 October 2015). "LogMeIn Acquires Password Management Software LastPass For $110 Million". TechCrunch. Oath Tech Network. Retrieved 14 December 2018.
  22. ^ "LogMeIn to Acquire Password Management Leader LastPass". LogMeIn, Inc. October 9, 2015. Retrieved 14 December 2018.
  23. ^ "LastPass Joins the LogMeIn Family". LastPass. October 9, 2015. Retrieved 14 December 2018.
  24. ^ "LogMeIn Set to Establish LastPass as an Independent Cloud Security Company Amid Strong Market Demand". www.logmein.com. Retrieved 2022-02-02.
  25. ^ Davis, Wes (May 1, 2024). "LastPass goes independent over a year after serious breaches". The Verge.
  26. ^ "LogMeIn Announces Merger with Citrix's GoTo Family of Products to Create Billion Dollar Industry Leader" (Press release). GlobeNewswire. 26 July 2016. July 26, 2016
  27. ^ "BRIEF-Citrix completes spin-off and merger of Goto family of service offerings with Logmein". Reuters. 2017-02-01. Retrieved 2017-02-02.
  28. ^ Ron Miller (February 15, 2018). "Google to acquire Xively IoT platform from LogMeIn for $50M". TechCrunch.
  29. ^ Gagliordi, Natalie. "LogMeIn buys Jive Communications for $342 million". ZDNet. Retrieved 2018-02-08.
  30. ^ "Francisco Partners and Evergreen Coast Capital Complete Acquisition of LogMeIn" (Press release). NASDAQ. Globe Newswire. August 31, 2020.
  31. ^ "LogMeIn Rebrands as GoTo with a New Application Combining Support and Communications Solutions, New Products, and a New Partner Network" (Press release). 2 February 2022.
  32. ^ "Company Overview of LogMeIn, Inc". Bloomberg. October 1, 2017.
  33. ^ "Cloud Phone System & Virtual Meeting Platform | GoTo Connect".
  34. ^ "How to Backup and Restore Hamachi Client Configuration - Hamachi Support". support.logmeininc.com. Retrieved 2024-07-14.
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