73.58 -1.15 -1.54% Volume: 410,500 July 23, 2019

LogMeIn Completes Merger with Citrix’s GoTo Business

Feb 01, 2017

BOSTON, Feb. 01, 2017 (GLOBE NEWSWIRE) -- LogMeIn, Inc. (NASDAQ:LOGM) announced the completion of its previously disclosed merger with Citrix Systems, Inc.’s (NASDAQ:CTXS) GetGo, Inc. subsidiary, a wholly owned subsidiary consisting of Citrix’s GoTo family of service offerings. The merger officially closed after market hours on January 31, 2017.  Effected through a Reverse Morris Trust transaction, the merger brings together two of the preeminent players in cloud connectivity to instantly create one of the world’s top 10 public SaaS companies1, and a market leader with the scale, resources and world-class talent required to accelerate innovation and significantly expand its total addressable market opportunity.

“Between LogMeIn and GoTo we have two of the best known, most trusted and reliable product portfolios in cloud connectivity, and both companies have been remarkable success stories,” said Bill Wagner, president and CEO of LogMeIn. “Today we start an exciting new chapter together as a clear leader that has the scale, innovation and vision to reset customer, employee and shareholder expectations, while redefining our core markets.”    

Fourth quarter and fiscal year 2016 call; Combined outlook for 2017
As previously announced, LogMeIn will report its fourth quarter and fiscal year 2016 financial results for the period ended December 31, 2016 following the close of market on Tuesday, February 28, 2017. On that day, management will hold a conference call and webcast at 5:00 p.m. ET to review and discuss the Company's results for the fourth quarter and fiscal year. During this call, the Company expects to also provide preliminary guidance for the first quarter and full fiscal year of 2017. 

Information on the conference call can be found via a previous press release, as well as on LogMeIn’s investor relations site

Previous information and details regarding the merger
Information on the merger can be found on LogMeIn’s corporate website, as well as in a special merger section of its investor relations site

About LogMeIn
LogMeIn, Inc. (NASDAQ:LOGM) simplifies how people connect with each other and the world around them to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses. One of the world’s top 10 public SaaS companies, and a market leader in communication & conferencing, identity & access, and customer engagement & support solutions, LogMeIn has millions of customers spanning virtually every country across the globe. LogMeIn is headquartered in Boston with additional locations in North America, Europe, Asia and Australia.

1 Based on 2016 proforma revenue and in comparison to the annual revenue of other publicly traded SaaS companies 

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the LogMeIn’s position as a market leader, acceleration of innovation and expansion of total addressable market opportunity.  These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the LogMeIn's control.  LogMeIn’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to (1) failure to realize the estimated synergies or growth anticipated as a result of the transactions or that such benefits may take longer to realize than expected, (2) risks related to unanticipated costs of integration of GetGo by LogMeIn, (3) the effect of the consummation of the transactions on the ability of LogMeIn to retain and hire key personnel and maintain relationships with key business partners and customers, and on LogMeIn’s operating results and businesses generally, (4) adverse trends in economic conditions generally or in the industries in which the LogMeIn operates, (5) adverse changes to, or interruptions in, relationships with third parties unrelated to the merger, (6) LogMeIn’s ability to compete effectively and successfully and to add new products and services, (7) LogMeIn’s ability to successfully manage and integrate acquisitions, (8) the ability to attract new customers and retain existing customers in the manner anticipated, (9) unanticipated changes relating to competitive factors in the LogMeIn’s industries, and (10) any business interruptions in connection with the LogMeIn’s technology systems.  Discussions of additional risks and uncertainties are contained in LogMeIn’s filings with the U.S. Securities and Exchange Commission (the “SEC”). LogMeIn is under no obligation, and expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise.  Persons reading this announcement are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof.

Contacts:

Investors
Rob Bradley
781-897-1301
rbradley@LogMeIn.com 

Press
Craig VerColen
781-897-0696
Press@LogMeIn.com

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Source: LogMeIn, Inc.
NASDAQ:LOGM
Price 73.58 -1.15 -1.54% Volume: 410,500 Jul 23, 2019 PM ET Pricing delayed 20 minutes> More

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Investor Contact

Rob Bradley
Vice President of Investor Relations
Phone: (781) 897-1301

InvestorRelations@LogMeIn.com

Disclaimer

You are now leaving LogMeIn's website and are being directed to a website that is operated and maintained by a third party (an "External Site"). LogMeIn does not control the External Site and is not responsible for the data, content or availability of the External Site. This link to the External Site is provided for convenience purposes only. We make no representation or warranty regarding the accuracy of the information contained in the External Sites. We suggest that you always verify the information obtained from linked websites before acting upon this information. Also, please be aware that the security and privacy policies on this External Site may be different than LogMeIn’s policies, so we encourage you to read any third party privacy and security policies closely.

LogMeIn’s filings with the U.S. Securities and Exchange Commission, or SEC, including LogMeIn’s annual reports on Form 10-K which include our audited financial statements, are available on LogMeIn’s Investor Relations website at https://investor.logmeininc.com/about-us/investors/financials/sec-filings/default.aspx free of charge. The data and other content contained on the External Site are not meant, and should not be used, as a substitute for information contained in LogMeIn’s filings with the SEC or disclosed through other channels used by LogMeIn to comply with its disclosure obligations under Regulation FD. The reports contained on the External Site may contain forward-looking information about LogMeIn’s future financial performance and results. Please note that the information presented on the External Site is deemed representative at the time of its original release and that changes in historical information may occur. LogMeIn undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee these results. We caution you to consider the risk factors described in our SEC filings, which could cause actual results to differ materially from the forward-looking statements disclosed on the External Site.

Non-GAAP Information

The External Site may contain certain non-GAAP and pro forma non-GAAP financial measures, in addition to financial measures determined in accordance with GAAP. “GAAP” refers to generally accepted accounting principles in the United States. The non-GAAP financial measures contained on the External Sites are not prepared in accordance with GAAP and may not be comparable to non-GAAP financial measures used by other companies. The non-GAAP information should be considered in addition to, but not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. LogMeIn urges investors to review the reconciliation of its non-GAAP financial measures to the comparable GAAP financial measures, which it includes in press releases announcing its quarterly financial results, and not to rely on any single financial measure to evaluate the Company's business. Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP measures are included in LogMeIn’s quarterly press releases, which can be found in the Financials section of LogMeIn’s investor relations website under “Quarterly Results.”

By clicking “Accept”, you acknowledge that you have read and understand the information set forth above and agree that you will not misrepresent any calculation derived from the data or other content contained on the External Site as LogMeIn’s or otherwise.