Stockholders Approve LogMeIn’s Definitive Agreement to be Acquired by Affiliates of Francisco Partners and Evergreen Coast ...
March 12 2020 - 9:20AM
LogMeIn, Inc. (Nasdaq: LOGM), a leading provider of cloud-based
connectivity, today announced that its stockholders voted to adopt
the previously announced definitive agreement in which LogMeIn will
be acquired in a transaction led by Francisco Partners, a leading
technology-focused global private equity firm, and Evergreen Coast
Capital Corporation, the private equity affiliate of Elliott
Management Corporation, at its special meeting of stockholders held
earlier today. At the special meeting, LogMeIn stockholders
adopted the merger agreement with more than 74% of the outstanding
shares voting in favor of the merger. The proposed merger is
expected to close in mid-2020, subject to customary closing
conditions, including the receipt of regulatory approvals.
About LogMeIn, Inc.LogMeIn, Inc. (NASDAQ: LOGM)
simplifies how people connect with each other and the world around
them to drive meaningful interactions, deepen relationships, and
create better outcomes for individuals and businesses. One of the
world’s top 10 public SaaS companies, and a market leader in
unified communications and collaboration, identity and access
management, and customer engagement and support solutions, LogMeIn
has millions of customers spanning virtually every country across
the globe. LogMeIn is headquartered in Boston, Massachusetts with
additional locations in North America, South America, Europe, Asia
and Australia.
Cautionary Statements Regarding Forward-Looking
Information Certain statements contained in this
communication may constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements are indicated by words or phrases such as “guidance,”
“believes,” “expects,” “intends,” “forecasts,” “can,” “could,”
“may,” “anticipates,” “estimates,” “plans,” “projects,” “seeks,”
“should,” “targets,” “will,” “would,” “outlook,” “continuing,”
“ongoing,” and similar words or phrases and the negative of such
words and phrases. Forward-looking statements are based on the
Company’s current plans and expectations and involve risks and
uncertainties which are, in many instances, beyond the Company’s
control, and which could cause actual results to differ materially
from those included in or contemplated or implied by the
forward-looking statements. Such risks and uncertainties include
the following: the occurrence of any event, change or other
circumstance that could give rise to the termination of the merger
agreement; the failure to obtain certain required regulatory
approvals to the completion of the transaction or the failure to
satisfy any of the other conditions to the completion of the
transaction; the effect of the announcement of the transaction on
the ability of the Company to retain and hire key personnel and
maintain relationships with its key business partners and
customers, and others with whom it does business, or on its
operating results and businesses generally; risks associated with
the disruption of management’s attention from ongoing business
operations due to the transaction; the ability to meet expectations
regarding the timing and completion of the merger; and other risks
and uncertainties described in the Company’s reports and filings
with the SEC, including the risks and uncertainties set forth in
Item 1A under the heading Risk Factors in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2019 filed with
the SEC on February 14, 2020 and other periodic reports the Company
files with the SEC, which are available at www.sec.gov and the
Company’s website at www.logmeininc.com. The Company undertakes no
obligation to update forward-looking statements to reflect
developments or information obtained after the date hereof and
disclaims any obligation to do so other than as may be required by
law. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date
hereof.
Contact Information: Investors Rob
Bradley LogMeIn, Inc.
781-897-1301Rob.Bradley@LogMeIn.com
Press Craig VerColen LogMeIn, Inc.
781-897-0696Press@LogMeIn.com
Francisco Partners John Moore
215-657-4971 press@franciscopartners.com
Elliott and Evergreen Stephen Spruiell
212-478-2017sspruiell@elliottmgmt.com
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