The password management service that's quite popular,
LastPass, has just announced that its service has been bought by LogMeIn for $
125 million. The transaction is expected to be completed in the next few weeks.
For LastPass, this is a big leap which's expected can help
this service to grow and continue to provide the best service for the free,
premium and corporate users. The support of LogMeIn is also expected to
encourage new innovation in order to grow faster and better. For that, after
the acquisition, LastPass is planning to launch update in the form of new
features.
Meanwhile, from the LogMeIn that's represented by CEO
Michael Simon says "LastPass has a great business, a beloved and
award-winning product, millions of loyal users, and thousands of great business
customers -- they are synonymous with the category,"
"We believe this transaction instantly gives us a
market leading position in password management, while also providing a highly
favorable foundation for delivering the next generation of identity and access
management solutions to individuals, teams and companies." says Michael
Simon.
Both LastPass and LogMeIn in the official statement also
ensure that there’s nothing will change in LastPass, including the team behind
this service.
For LogMeIn this is their second acquisition decision, after
in September last year this company also bought a management service named
Meldium. LogMeIn explain that they are currently still going to support both,
but the long-term plan is to combine the two in one container.
LogMeIn explain that their interest in LastPass because they
believe that this service can help them to gain a more solid position in the
access management market. So far the LogMeIn is well known as a manufacturer of
desktop's remote access program. But in the last few years they begin to extend
their coverage to the cloud storage service (Cubby), online backup, online
meetings and customer service tool in remote method.
The story of LastPass was started in 2008 in Fairfax,
Virginia, with an interesting mission to solve the password problems through
smart solution. Since then, there are at least 7 million people have been
registered to use the LastPass service. The 30 employees will continue to work
as before.