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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

SPX

LogMeIn Inc. 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 -2.57% 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/210599714/realtime
US : S&P US
3,750.77
-98.85 -2.57%
Volume: 3.80B
Jan. 27, 2021 4:53p
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