LogMeIn, a remote desktop service, announced its plan to acquire LastPass this morning, bolstering the company’s position in the multi-billion dollar identity and access management (IAM) market.
What does it mean for users? All good things, apparently. According to LastPass’ blog post, users on each tier of the service will continue to receive updates and even new features. “Together with LogMeIn, we’ll be able to accomplish more, faster – providing an even better service to millions of people,” the company states.
On the financial side, it appears LogMeIn is set to pay $110 million in cash for all outstanding equity interests in LastPass, with up to an additional $15 million in cash for equity holders and key employees of LastPass upon the “achievement of certain milestones and retention targets” over a 2-year period following closing.
Are you a LastPass user? Happy about the acquisition?