The deal will accelerate LogMeIn’s overall Unified Communications and Collaboration (UCC) strategy and bolster the firm’s popular collaboration portfolio, bringing together the firms leading offerings like GoToMeeting, GoToWebinar, OpenVoice, and join.me with Jive’s innovative and award-winning UC products
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BOSTON, USA: LogMeIn, Inc. recently announced that it has entered into a definitive agreement to acquire Jive Communications, a leading provider of cloud-based phone systems and Unified Communications services and one of the fastest growing players in the Unified Communications-as-a-Service (UCaaS) space.
The deal will accelerate LogMeIn’s overall Unified Communications and Collaboration (UCC) strategy and bolster LogMeIn’s popular collaboration portfolio, bringing together LogMeIn’s market-leading offerings like GoToMeeting, GoToWebinar, OpenVoice, and join.me with Jive’s innovative and award-winning UC products.
Under the terms of the merger agreement, LogMeIn is expected to pay $342 million in cash upon close for all outstanding equity interests in Jive, subject to potential working capital and other adjustments as further described in the definitive merger agreement. LogMeIn is also expected to pay up to an additional $15 million in cash contingency payments upon the achievement of specified milestones over the two-year period following the closing of the transaction.
The deal is expected to close during the second quarter of 2018, subject to certain regulatory approvals and customary closing conditions. With one of the world’s most widely recognized collaboration portfolios, LogMeIn is a leader in web conferencing and web events. The companys collaboration portfolio alone, serves 25 million users, seven million meetings, and over 900 million conferencing minutes every month.
“Jive’s success in UCaaS is a testament to its modern cloud-based platform, its deliberate focus on customer satisfaction, and its renowned culture of innovation. We believe the combination of Jive’s award-winning voice, video, contact center and mobile applications with our leading collaboration products, GoToMeeting and join.me, will give LogMeIn one of the best and most comprehensive UCC offerings in the market,” said Bill Wagner, President and CEO of LogMeIn.
He added that the result is a deal that will accelerate their overall growth, set a new standard in the UCC market, and provide them a foundation upon which they would build the next generation of LogMeIn’s UCC portfolio.
Headquartered in Orem, Jive Communications is a privately held, venture-backed company with over 20,000 customers worldwide, a growth rate exceeding its peers in the high-growth UCaaS market. The firm is widely recognized for its innovative technology, elegant and intuitive user experience, simple, scalable delivery model, and best-in-class customer service.
John Pope, CEO of Jive Communications said, “With market defining brands like GoToMeeting and GoToWebinar, LogMeIn is one of the most recognized and respected names in collaboration – a leader with the reach, scale and resources capable of fueling Jive’s next chapter of growth and customer-focused innovation. They are also a company that shares our vision and philosophy for giving millions of people a better, simpler, friction-free way to communicate and collaborate on their terms. ”
He added that it is a combination that immediately gives both parties the power to deliver significantly more value to their combined customer bases.