LogMeIn Completes Merger with Citrix’s GoTo Business
February 01 2017 - 8:00AM
LogMeIn, Inc. (NASDAQ:LOGM) announced the completion of its
previously disclosed merger with Citrix Systems, Inc.’s
(NASDAQ:CTXS) GetGo, Inc. subsidiary, a wholly owned subsidiary
consisting of Citrix’s GoTo family of service offerings. The merger
officially closed after market hours on January 31, 2017.
Effected through a Reverse Morris Trust transaction, the
merger brings together two of the preeminent players in cloud
connectivity to instantly create one of the world’s top 10 public
SaaS companies1, and a market leader with the scale, resources and
world-class talent required to accelerate innovation and
significantly expand its total addressable market opportunity.
“Between LogMeIn and GoTo we have two of the best known, most
trusted and reliable product portfolios in cloud connectivity, and
both companies have been remarkable success stories,” said Bill
Wagner, president and CEO of LogMeIn. “Today we start an exciting
new chapter together as a clear leader that has the scale,
innovation and vision to reset customer, employee and shareholder
expectations, while redefining our core markets.”
Fourth quarter and fiscal year 2016 call; Combined
outlook for 2017As previously announced, LogMeIn will
report its fourth quarter and fiscal year 2016 financial results
for the period ended December 31, 2016 following the close of
market on Tuesday, February 28, 2017. On that day, management will
hold a conference call and webcast at 5:00 p.m. ET to review and
discuss the Company's results for the fourth quarter and fiscal
year. During this call, the Company expects to also provide
preliminary guidance for the first quarter and full fiscal year of
2017.
Information on the conference call can be found via a previous
press release, as well as on LogMeIn’s investor relations
site.
Previous information and details regarding the
mergerInformation on the merger can be found on LogMeIn’s
corporate website, as well as in a special merger section of its
investor relations site.
About LogMeInLogMeIn, 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
communication & conferencing, identity & access, and
customer engagement & support solutions, LogMeIn has millions
of customers spanning virtually every country across the globe.
LogMeIn is headquartered in Boston with additional locations in
North America, Europe, Asia and Australia.
1 Based on 2016 proforma revenue and in comparison to the
annual revenue of other publicly traded SaaS companies
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements regarding the LogMeIn’s position as a market leader,
acceleration of innovation and expansion of total addressable
market opportunity. These forward-looking statements are made
as of the date they were first issued and were based on current
expectations, estimates, forecasts and projections as well as the
beliefs and assumptions of management. Words such as "expect,"
"anticipate," "should," "believe," "hope," "target," "project,"
"goals," "estimate," "potential," "predict," "may," "will,"
"might," "could," "intend," variations of these terms or the
negative of these terms and similar expressions are intended to
identify these forward-looking statements. Forward-looking
statements are subject to a number of risks and uncertainties, many
of which involve factors or circumstances that are beyond the
LogMeIn's control. LogMeIn’s actual results could differ
materially from those stated or implied in forward-looking
statements due to a number of factors, including but not limited to
(1) failure to realize the estimated synergies or growth
anticipated as a result of the transactions or that such benefits
may take longer to realize than expected, (2) risks related to
unanticipated costs of integration of GetGo by LogMeIn, (3)
the effect of the consummation of the transactions on the ability
of LogMeIn to retain and hire key personnel and maintain
relationships with key business partners and customers, and on
LogMeIn’s operating results and businesses generally, (4) adverse
trends in economic conditions generally or in the industries in
which the LogMeIn operates, (5) adverse changes to, or
interruptions in, relationships with third parties unrelated to the
merger, (6) LogMeIn’s ability to compete effectively and
successfully and to add new products and services, (7) LogMeIn’s
ability to successfully manage and integrate acquisitions, (8) the
ability to attract new customers and retain existing customers in
the manner anticipated, (9) unanticipated changes relating to
competitive factors in the LogMeIn’s industries, and (10) any
business interruptions in connection with the LogMeIn’s technology
systems. Discussions of additional risks and uncertainties
are contained in LogMeIn’s filings with the U.S. Securities
and Exchange Commission (the “SEC”). LogMeIn is under no
obligation, and expressly disclaims any obligation, to update,
alter, or otherwise revise any forward-looking statements, whether
written or oral, that may be made from time to time, whether as a
result of new information, future events, or otherwise.
Persons reading this announcement are cautioned not to place undue
reliance on these forward-looking statements which speak only as of
the date hereof.
Contacts:
Investors
Rob Bradley
781-897-1301
rbradley@LogMeIn.com
Press
Craig VerColen
781-897-0696
Press@LogMeIn.com
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