LogMeIn, a customer experience software provider, cashed out of the public ranks this week thanks to a $4.3 billion acquisition by private equity firm Francisco Partners and Evergreen Coast Capital Corporation. The deal goes for $86.05 per share in cash, and values LogMeIn at $4.3 billion.
LogMeIn offers unified communication and collaboration, identity and access management and customer engagement and support solutions. The acquisition of the Boston-based provider builds on the strength of Francisco Partners' infrastructure and security software franchise, according to Dipanjan “DJ” Deb, co-founder and CEO of Francisco Partners.
The transaction is expected to close in mid-2020. LogMeIn is known for providing remote access and collaboration through Join.me and webinars through GoToWebinar. The deal comes after some hot private equity activity in the customer experience software space this month. Vista Equity Partners earlier this month acquired digital customer experience provider Acquia for $1 billion. It was a hot overall 2019 for CX acquisitions, one in which brands like McDonald's and Mastercard made significant investments in CX software.
In other customer experience software news ...
Terminus Acquires Sigstr
Terminus, an account-based marketing platform, announced it has acquired Sigstr, an email signature marketing platform. Terminus officials said the acquisition of Sigstr creates an "end-to-end account-centric marketing platform" that includes account intelligence based on intent, engagement and relationship data.
The company plans to maintain and grow its presence in the Atlanta (Terminus) and Indianapolis (Sigstr) markets, as well as the Terminus San Francisco office. All Sigstr employees will immediately become Terminus employees. Bryan Wade, CEO of Sigstr, joins the executive team at Terminus.
What will the combined technologies mean for customers? Revenue teams can manage best-fit segments, prioritize accounts and identify the next-best-action for execution. Account-centric messaging can be now executed from digital advertising to employee email interactions. They'll also be able to integrate employee email marketing into account-based programs. The companies had been partners prior to the acquisition.
Sigstr, a relationship marketing platform, integrates email with CRM, marketing automation and other marketing technologies. It is designed to turn employee email into a channel that engages with customer audiences.
HubSpot Hires First Chief Customer Officer
HubSpot, a marketing automation and CRM provider, has named Yamini Rangan as the company’s first chief customer officer, effective next month. Rangan previously held the same role at Dropbox. Company officials said her goal will be to unite marketing, sales and services teams around the customer. Rangan will be a member of the executive leadership team along with founders Brian Halligan and Dharmesh Shah.
Rangan spent four years at Workday where she was the vice president of sales strategy and operations. She has a bachelor’s degree in electronics engineering, a Master’s in computer engineering, and an MBA from the University of California, Berkeley. HubSpot is known for its yearly INBOUND conference, attended by more than 26,000 this year.
Private Equity Acquires Smartly.io for $222M
Smartly.io, a creative and digital advertising platform, has announced a majority investment of about $222 million from Providence Equity Partners. The acquisition will help Smartly.io’s grow its multi-platform advertising solution that combines creative production and media optimization. Smartly.io's digital advertising solution is designed to help advertisers create, launch and iterate brand and performance advertising.
Smartly.io has more than 350 employees and offices in 16 locations around the world.Smartly.io has been an official Facebook Marketing Partner since 2014. Smartly.io enables advertisers to manage and optimize their creative and ad operations across Facebook, Instagram and Pinterest.
Providence Operating Partner Laura Desmond has been appointed as Chairperson of the Board of Directors at Smartly.io. Desmond has spent time with Facebook, Google, LiveRamp and Tencent. She also serves on the board of DoubleVerify, a Providence portfolio company.