LogMeIn has announced that it will be acquired by affiliates of Francisco Partners and the private equity affiliate of Elliott Management Corporation, Evergreen Coast Capital Corporation for $4.3bn.
The all-cash deal will see the company purchased for $86.05 per share. LogMeIn had a 52-week high of $98.67 per share and a low of $62.02 though the purchase represents a 25 percent premium on the closing share price on September 18th when it was first reported that the company was up for sale.
In a statement announcing the takeover, president and CEO of LogMeIn, Bill Wagner explained that the deal will be beneficial for both its shareholders and the company’s future growth, saying:
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