LogMeIn Owns LastPass for $125 million

LogMeIn Big Deal

LogMeIn a specialist remote access computer company has bought the most popular password management company LastPass for $125 million. LogMeIn announced the statement on October 9th.

The acquisition has been finalized, both companies are interested and the deal will be ended in the coming weeks.

LogMeIn CEO announced that “LastPass has a great business, a beloved and award winning product, millions of loyal users, and thousands of great business customers…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.”

Average person remembers around 24 passwords, and more than 64 percent of people admit that they use the one password everywhere on the internet; the opportunity for success in this category is great.

LastPass:

LastPass was developed in 2008, and makes computer applications that generate most strong passwords and then translate them in secure digits. The company specialises in make Suring their security application integrates with different kind of browsers, both on mobile and desktop applications. While the core application can be used free of cost, you have to pay for additional features.

LogMeIn:

LogMeIn was developed in 2003, and have a great reputation in their field. The company offers remote desktop support tools and software to individuals and businesses. Software also has a free version that was regarded well by its users as being most powerful tool for a free program.