LogMeIn (LOGM) Acquires Bold Software in $16.5M Deal
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LogMeIn, Inc. (Nasdaq: LOGM) today announced that it has completed the acquisition of the assets of Bold Software, LLC, a leading provider of web chat and customer communications software. The move is part of a larger strategy to expand LogMeIn's portfolio of web-based services aimed at customer care organizations – call centers, external help desks, and customer service teams.
Under the terms of the transaction, LogMeIn acquired substantially all of the net assets of Bold Software for total consideration of approximately $16.5 million in cash, a portion of which is contingent retention-based bonuses and is expected to be paid over time. LogMeIn expects the acquisition to be accretive to its non-GAAP operating results within twelve months and will provide more details regarding the financial terms of the transaction during its fourth quarter 2011 financial results conference call.
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Under the terms of the transaction, LogMeIn acquired substantially all of the net assets of Bold Software for total consideration of approximately $16.5 million in cash, a portion of which is contingent retention-based bonuses and is expected to be paid over time. LogMeIn expects the acquisition to be accretive to its non-GAAP operating results within twelve months and will provide more details regarding the financial terms of the transaction during its fourth quarter 2011 financial results conference call.
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