LogMeIn Completes Acquisition of Jive Communications
BOSTON, April 03, 2018 (GLOBE NEWSWIRE) --
LogMeIn, Inc. (Nasdaq:LOGM) today announced that it has completed its acquisition of Jive Communications, a leading provider of cloud-based phone systems and Unified Communications (UC) services and one of the fastest growing players in the Unified Communications-as-a-Service (UCaaS) space. The acquisition, first announced in February, accelerates LogMeIn’s overall Unified Communications and Collaboration (UCC) strategy and bolsters LogMeIn’s popular collaboration portfolio, bringing together LogMeIn’s market-leading offerings like GoToMeeting, GoToWebinar, and join.me with Jive’s innovative and award-winning UC products.
“LogMeIn and Jive share a common philosophy. We both build frictionless user experiences and easy-to-deploy cloud-based solutions designed to scale simply and securely,” said Bill Wagner, President and CEO of LogMeIn. “As part of the LogMeIn family, Jive gains significant scale and resources to help accelerate innovation, introduce complementary best-in-class offerings, and expand their footprint into new markets. It’s this combination that has us so excited about our future together – a shared opportunity to shape the ways modern workers communicate and collaborate to advance ideas, close business, and get work done.”
Financial Impact LogMeIn will provide updated second quarter and full year 2018 guidance, including the contribution from Jive Communications, on its first quarter earnings call. Details for that call will be forthcoming.
LogMeIn’s Communications and Collaboration Portfolio A recognized market leader in Communications and Collaboration, LogMeIn has a broad portfolio of products that create simpler, more intelligent ways for people to meet, connect, market, sell and train, to deepen relationships and drive better outcomes. These include award-winning products such as join.me, GoToMeeting, GoToWebinar, GoToTraining, Grasshopper, OpenVoice, and Jive. LogMeIn’s combined communication and collaboration products support over 25 million users, with over 900 million conferencing minutes a month contributing to over 7 million meetings per month, and 12 billion voice minutes per year.
About LogMeIn 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 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.
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 LogMeIn’s position as a market leader, acceleration of innovation and expansion into new markets. These forward-looking statements are made as of the date they were first issued and were based on the current expectations, beliefs and assumptions of LogMeIn’s management concerning future developments and business conditions. Forward-looking statements are often identified by words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward looking. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond 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 growth and other benefits anticipated as a result of the transaction or that such benefits may take longer to realize than expected, (2) LogMeIn’s ability to successfully manage and integrate Jive and its business, (3) risks related to unanticipated costs of integrating Jive, (4) LogMeIn’s ability to retain and hire key personnel and maintain relationships with key business partners and customers, (5) adverse trends in economic conditions generally or in the industries in which LogMeIn operates, (6) adverse changes to, or interruptions in, relationships with third parties unrelated to the merger, (7) LogMeIn’s ability to compete effectively and successfully and to add new products and services, (8) the ability to attract new customers and retain existing customers, (9) unanticipated changes relating to competitive factors in LogMeIn’s industries, and (10) any unanticipated interruptions to LogMeIn’s technology systems. Discussions of additional risks and uncertainties are contained in LMI’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.
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