In LogMeIn’s related announcement, according to a report from Liliputing, the company stated that the deal was made for a figure in excess of $100 million. The program combines by having pc and cellular internet browsers and immediately gets filled in passcode spheres on web content whenever users enter a guru passcode. LastPass were subject to a small-scale security breach in June of this year, where hashed passwords and email addresses were outed by hackers. It can also store credit card and billing information to simplify online shopping.
Advertisement
In the rationale behind the move there was much talk of BYOA (bring your own app), which LogMeIn has identified as a key trend.
Those apps need to be secured because they often contain confidential data, and users rarely vary their passwords, LogMeIn says.
Remote computer-access company LogMeIn has acquired popular password-management company LastPass for $125 million, LogMeIn said in a statement today. Meldium is still available for use separately to LogMeIn, so that strategy might be employed once again with LastPass. LastPass has millions of individual users and counts more than 15,000 businesses as customers.
Advertisement
After the deal closes, LogMeIn will integrate its other identity management products and services into LastPass. LogMeIn, which is known for its cloud-based identity management and collaboration tools for businesses, said the acquisition “is highly complementary to LogMeIn’s existing identity portfolio and offers a natural extension to LogMeIn’s leadership position” in the identity and access management market. But in the near-term, both Meldium and LastPass will operate as separate products and continue to be supported. While it would follow that the tool is set to be folded into its new owner’s larger enterprise, its service could continue to be offered separately as well.
