Remote-access software developer LogMeIn has acquired LastPass, a popular password-management software company, for $125 million (roughly Rs. 810 crores). LogMeIn said in a statement last week that the deal is expected to be closed in the coming weeks. The company acquired another password management service, Meldium, in September 2014 and plans to merge it with LastPass. The statement said that in the near-term, both Meldium and LastPass will be supported, but long-term plans will have the company's password and identity management services centre around the LastPass brand. "LastPass has a great business, a beloved and award winning product, millions of loyal users, and thousands of great business customers - they are synonymous with the category," said Michael Simon, LogMeIn's Chairman and CEO. "We believe this transaction instantly gives us a market leading position in password management, while also providing a highly favourable foundation for delivering t...
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