Password Manager LastPass Gets Acquired by LogMeIn

lastpass joins logmeinIn a rather surprising news, LastPass gets acquired by LogMeIn. As you’d be familiar, LogMeIn is a remote desktop management service similar to TeamViewer. LastPass announced the acquisition by sending emails to all existing customers besides publishing the news on their blog. What’s good is that LogMeIn has no intention to re-brand the service or make changes to the business model. As such, the free LastPass plan is here to stay.

We will continue to build and improve LastPass for our free, Premium, and Enterprise customers. Together with LogMeIn, we’ll be able to accomplish more, faster – providing an even better service to millions of people. As we become part of the LogMeIn family over the next several months, we’ll be releasing updates to LastPass, introducing new features, and continuing to grow the service as we work to bring LastPass to millions more who struggle with passwords.

LastPass has been our favorite when it comes to Password Management, but whether it will continue to stay as our favorite is something only time will tell. LogMeIn has the steering in its hands now and it can make LastPass emerge as an even better service or it can ruin it enough to shoo away the customers. Over time, LogMeIn will be integrating features from its previous acquisition – Meldium into LastPass as it strives to utilize the LastPass brand in its future endeavors.

The acquisition is worth $110 million with up to an additional $15 million to be paid upon the achievement of certain milestone and retention targets. Hoping that LastPass employees and customers have a smooth transition.

SourceLogMeIn blog

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