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Dec. 17, 2019, 9:54 a.m. EST

LogMeIn to be acquired by private equity affiliates in $4.3 billion deal

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By Emily Bary

LogMeIn Inc. /zigman2/quotes/209469357/composite LOGM +0.01% said Tuesday that it has entered into an agreement to be acquired by private-equity affiliates in an all-cash deal valued at about $4.3 billion. The agreement will see affiliates of Francisco Partners and Evergreen Coast Capital buy out LogMeIn for $86.05 a share. Shares closed Monday at $82.41 and were halted ahead of the close for the deal announcement, but shares gained 4% after trading resumed. The stock has climbed 23.5% over the past three months, as the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.06% has risen 6.5%. The company, which makes software that allows for remote connectivity, said that it expects the deal to close in the middle of 2020, and the company has a 45-minute go-shop window during which it can actively seek out additional acquisition offers.

/zigman2/quotes/209469357/composite
US : U.S.: Nasdaq
$ 85.89
+0.01 +0.01%
Volume: 178,282
Aug. 7, 2020 4:00p
P/E Ratio
493.05
Dividend Yield
1.51%
Market Cap
$4.21 billion
Rev. per Employee
$342,530
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/zigman2/quotes/210599714/realtime
US : S&P US
3,351.28
+2.12 +0.06%
Volume: 2.28B
Aug. 7, 2020 5:10p
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