LogMeIn buys LastPass for $125 million
Summary
The company says the deal is "expected to close in the coming weeks." LastPass became a favorite password-management option soon after its launch in 2008, and now caters to millions of users. Earlier this year, the company also offered its service for free on smartphones, only charging users hoping to switch between desktop and mobile. In June, the company announced that it had been hacked, with attackers stealing email addresses and hashed versions of some users master passwords. In todays statement, LogMeIns CEO says the deal complements the companys current offerings, and "instantly gives us a market-leading position in password management."
Classifications
industries
Retail
applications
Web and Content Management
AskAI Classifications
Labels
Cybersecurity Software
Identity and Access Management
Password Management Software
Linked Companies
LastPass
$100M to $250M