GoTo (US company)
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| File:GoToMeeting logo.svg | |
| Formerly |
|
|---|---|
| Company type | Private |
| Industry | Computer software |
| Founded | 2003 in Budapest, Hungary |
| Headquarters | , US |
Key people | Rich Veldran (CEO) |
| Products | Cloud-based software as a service |
| Revenue | US$1.262 billion (2019)[1] |
| Owners |
|
Number of employees | 3,974 (2019)[2] |
| Website | goto.com |
GoTo Technologies USA, Inc.,[3] formerly LogMeIn Inc.,[4] is a software as a service (SaaS) company that provides unified communication and IT management software. 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]
With the rebranding to GoTo, the company also announced the launch of a unified application featuring two main products:
- LogMeIn Resolve for IT management and support[7]
- GoTo Connect for business communications[8]
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.[9] The deal closed on August 31, 2020.[10] In 2022, GoTo announced the purchase of the mobile device management company Miradore.[11]
History
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LogMeIn was founded in 2003 in Budapest as 3am Labs, and changed its name in 2006.[12]
In 2006, 3am Labs acquired Hamachi, a VPN product.[13]
LogMeIn, Inc., completed an initial public offering in 2009. Trading of LogMeIn, Inc., shares on the NASDAQ Global Market commenced on July 1, 2009.[14]
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.[15] In May 2014, it added to this initiative by acquiring Ionia Corp., which specializes in integrating connected objects.[16]
LogMeIn, Inc., acquired Bold Software, LLC, in 2012.[17][18]
The company abruptly discontinued LogMeIn Free on January 21, 2014, giving users only a seven-day grace period to migrate to LogMeIn Pro.[19]
LogMeIn acquired Meldium for $15M in September 2014[20] and retired the Meldium product offering in July 2017.[21]
On October 9, 2015, LogMeIn acquired LastPass for US$110 million.[22][23][24][25] On December 14, 2021, the company announced that LastPass would spin off into its own cloud-based security company.[26] The spin-off was completed in May 2024.[27]
In July 2016, LogMeIn announced in a merger with Citrix's GoTo products using a Reverse Morris Trust.[28]
In February 2017, LogMeIn completed a merger with GetGo, the corporate spin-off of the GoTo product line from Citrix Systems.[29]
In February 2018, the company announced the sale of Xively to Google for $50M.[30] Also in February 2018, the company announced the acquisition of Jive Communications for $342M.[31]
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.[32]
On February 2, 2022, LogMeIn was rebranded as GoTo,[33] restoring the original brand that ExpertCity created in 1998, before Citrix Systems acquired it in 2004.
Products
[edit | edit source]The company's product portfolio is split into two business units; unified communications and collaboration, and IT management & support.[34] The products include:
- GoTo Business Communication Products
- GoTo Connect
- GoTo Contact Center
- GoTo Meeting
- GoTo Webinar
- GoTo Training
- Grasshopper
- LogMeIn IT Management & Support Products
- LogMeIn Resolve
- LogMeIn Rescue
- LogMeIn Miradore
- LogMeIn Pro
- LogMeIn Central
- GoToMyPC
- Hamachi
See also
[edit | edit source]References
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- ^ https://www.g2.com/products/goto-connect/reviews [bare URL]
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- ^ https://secure.logmein.com/corp/pressrelease.asp?id=49 LogMeIn acquires instant VPN creator Archived October 14, 2007, at the Wayback Machine
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- 2003 establishments in Massachusetts
- 2009 initial public offerings
- 2020 mergers and acquisitions
- American companies established in 2003
- Companies based in Boston
- Companies formerly listed on the Nasdaq
- Private equity portfolio companies
- Remote desktop
- Software companies based in Massachusetts
- Software companies established in 2003
- Software companies of the United States