Fri, Oct. 9, 9:33 AM
- LastPass provides a single sign-on service that stores password data for sites and cloud apps, and automatically enters it when a login page appears. It also allows online shopping profiles with saved billing data to be set up.
- LogMeIn (LOGM -1.3%) is buying LastPass for $110M in cash up-front, plus up to $15M in milestone/retention payments. The deal is expected to close in "the coming weeks."
- LastPass' service, which is offered via free, premium, and enterprise pricing tiers, will be integrated with LogMeIn's existing identity management offerings, including its Meldium enterprise single sign-on service (supports 2,350 apps).
- LogMeIn: "In the near-term, both the Meldium and LastPass product lines will continue to be supported, with longer-term plans to center around a singular identity management offering based on the LastPass service and brand." Microsoft and VMware are among the other companies to have shown an interest in enterprise identity management services for cloud apps.
LogMeIn Inc provides cloud-based services making it possible for people and businesses to simply and securely connect to their workplace, colleagues and customers. Its products include LogMeIn Backup, LogMeIn Hamachi, AppGuru, BoldChat and Cubby.
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