A couple of weeks ago, I wrote about the emergence of a new name for the Citrix "GoTo" family of collaboration products. Today Citrix and LogMeIn announced that they are merging their online collaboration products into a new combined company.
I was interested to read that the new company will be headquartered in Boston and will be run by the LogMeIn management team as a subsidiary of LogMeIn. Bill Wagner and Ed Herdiech will retain their current titles from LogMeIn as CEO and CFO, respectively. The Board of Directors will have five current board members from LogMeIn and four members to be appointed by Citrix.
According to presentation slides on the LogMeIn investor relations page, LogMeIn has estimated 2016 revenues of around $330 million and the GoTo products have estimated 2016 revenues of around $680 million. According to the slide, the combined billion-dollar-plus company will be in the top 10 of global SaaS companies by annual revenue.
LogMeIn has offices around the world, but based on the job listings I mentioned in my previous post, it looks like San Francisco is about to emerge as a major development center for the new collaboration software side of things.
UPDATE AUGUST 27, 2016: I received an email from Lauren Van Dam, the PR Manager at LogMeIn. She asked me to clarify that the GetGo name used by Citrix for the spinoff of the collaboration products has NOT been selected as the brand name for the combined company. GetGo will be formed as a spun-off Citrix business and immediately merge with a wholly-owned subsidiary of LogMeIn, with the combined entity itself then being a wholly owned subsidiary of LogMeIn operating under a name that has yet to be determined.