Menu
LogMeIn buying password manager LastPass

LogMeIn buying password manager LastPass

LogMeIn hopes to merge LastPass with its existing password manager for teams, Meldium

Identity and access management specialist LogMeIn has agreed to buy Marvasol, the company behind online password store LastPass.

The companies expect to close the deal, valuing Marvasol at between US$110 million and $125 million, in a matter of weeks.

LogMeIn is firmly in the enterprise market, while Marvasol has been steadily extending the LastPass secure password storage tool in that direction, with password sharing and group access functions.

LastPass stores an encrypted version of its customers' passwords in the cloud, allowing them to unlock and access them with a single password from almost any Internet-connected device through either secure browser plugins or a web interface. The company offers apps for Android and iOS, as well as plugins for Internet Explorer, Chrome, Firefox and Safari. Using the service on a single device category is free; multiple categories requires a subscription.

Online password storage services like LastPass or Dashlane compete with standalone apps such as 1Password, KeePass or Password Safe.

LogMeIn sees LastPass's more consumer-focused customer base and tools as important to deal with the bring-your-own-device and bring-your-own-app challenges faced by its existing corporate customers.

It intends to add features to LastPass found in the identity management tool Meldium that it acquired a year ago. Meldium is a password manager for teams, designed to work with collaboration tools such as Box, Github, Google Apps, Zendesk or Slack. For now LogMeIn plans to maintain both product lines, but ultimately expects to merge the two under the LastPass brand.

LogMeIn is expanding its product offering in other ways too. On Wednesday it said it would extend its Xive.ly identity management offering to encompass the Internet of Things.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments