San Francisco - Francisco Partners, a leading global private equity firm that specializes in investments in technology and technology-enabled businesses, has entered into a definitive agreement alongside Evergreen Coast Capital, for the acquisition of LogMeIn, a leading provider of cloud-based connectivity, for approximately $4.3 billion enterprise value. Paul Hastings served as lead buy-side counsel and is representing Francisco Partners on the transaction.
“This investment builds on the strength of our infrastructure and security software franchise and we are thrilled to partner with the company to achieve its long-term strategic vision,” noted Dipanjan “DJ” Deb, co-founder and CEO of Francisco Partners.
The Paul Hastings team included M&A partners Mike Kennedy, Jeffrey Wolf and Steve Camahort, Benefits partner Dan Stellenberg, IP partner Jane Song, Regulatory/Compliance partner Sherrese Smith, Tax partner Jim Smulkowski, Antitrust of counsel Michael Wise, M&A associates Lisa Chan and Christopher Cruickshank, IP associate Laura Yip, and Regulatory/Compliance associate Andrew Erber. Paul Hastings previously advised Francisco Partners on a number of other transactions in 2019, including the $1.4 billion sale of ClickSoftware to Salesforce and the sale of Prometheus Group to Genstar Capital for over $1 billion.
The transaction is expected to close in mid-2020, subject to customary closing conditions.
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