Francisco Partners, Evergreen to buy LogMeIn for $4.3B

LogMeIn has accepted a $4.3 billion take-private offer from Francisco Partners and Evergreen Coast Capital, the private equity affiliate of Elliott Management.

The private equity firms' all-cash offer of $86.05 per share is 25% above LogMeIn's closing price on September 18, the day before Dealreporter first reported on the rumored sale. The Boston-based company develops software to enable remote business connections through its namesake services as well as GoToMeeting and LastPass.

The deal is expected to close by the middle of next year, but LogMeIn could still receive competing bids during a 45-day go-shop period. Evergreen and Francisco previously teamed up to buy Dell's software unit in 2016.

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