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. The company's products give users and administrators access to remote computers.
In October 2015, LogMeIn bought the password manager solution LastPass. In February 2017, LogMeIn completed a merger with the "GoTo" business.
The company is part of the S&P 400 stock market index and has forecast annual revenue of more than $1 billion in 2017.
The company's products are focused on three business areas, including Communications & Collaboration services, Identity & Access Management services, and Customer engagement & support services. The products include:
The company was formerly known as 3am Labs, Inc. before March 2006.
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. Anka's work for Uproar allegedly laid the foundation for his RemotelyAnywhere application, which later evolved into LogMeIn after 3am Labs incorporated.
3am Labs acquired the Hamachi VPN product.
LogMeIn, Inc., changed its name from 3am Labs in 2006.
Tridia sued LogMeIn, Inc. for patent infringement in January 2008.
LogMeIn, Inc., completed an IPO in 2009. Trading of LogMeIn, Inc. shares on the NASDAQ Global Market commenced on July 1, 2009.
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. In May 2014, it added to this initiative by acquiring Ionia Corp., which specializes in integrating connected objects.
LogMeIn, Inc., acquired Bold Software, LLC in 2012.
LogMeIn acquired Meldium for $15 Million in September 2014 and retired the Meldium product offering in July 2017.
In July 2015, LogMeIn launched a new innovative product named "Rescue Lens" designed for providing video-assisted customer support using a camera on the client's iOS or Android device. This allows a customer support representative to join a live feed in order to remotely work on technical issues reported by the customer by seeing the physical product as if it was in front of them.
LogMeIn acquired LastPass for $110 Million in October 2015.
LogMeIn announced in July 2016 a merger with Citrix's GoTo Family of Products via a Reverse Morris Trust.
In July 2017, the company announced they acquired Israel-based software company Nanorep for a reported $45 million dollars and then an additional $5 million in contingent cash for high-performing employees who would continue with LogMeIn for the next two years post the closure of the transaction. Nanorep makes customer service software that uses artificial intelligence and chatbots to make more intuitive and engaging customer service.