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LogMeIn Announces Stockholder Approval in Connection with Merger with Citrix's GoTo BusinessBOSTON, Jan. 25, 2017 (GLOBE NEWSWIRE) -- LogMeIn, Inc. (NASDAQ:LOGM) today announced that at a special meeting of its stockholders, the proposal to approve the issuance of shares of LogMeIn common stock to equityholders of Citrix Systems, Inc. was approved. This stockholder approval was required in connection with LogMeIn’s proposed merger with Citrix’s GetGo subsidiary, a wholly owned subsidiary consisting of Citrix’s GoTo family of service offerings. First announced on July 26, 2016, the merger would bring together proven innovators with a shared belief in simplifying the way people connect to customers, colleagues and the world around them. The GoTo family of service offerings delivers collaborative communication solutions for small and medium sized businesses and has strong global brand recognition through leading products including GoToAssist, GoToMeeting, GoToMyPC, GoToTraining, GoToWebinar, Grasshopper and OpenVoice. LogMeIn, a leading provider of cloud-based connectivity, has rapidly attracted millions of users and thousands of leading businesses to its popular and disruptive products, including join.me, LastPass, LogMeIn Rescue and BoldChat, among others. The merger is expected to be completed following the close of business on Tuesday, January 31, 2017, subject to satisfaction of the remaining closing conditions. About LogMeIn Forward-Looking Statements Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, (2) the risk that the necessary regulatory approvals may not be obtained or may be obtained subject to conditions that are not anticipated, (3) risks that any of the closing conditions to the proposed merger, including Citrix’s distribution of the shares of GetGo, may not be satisfied in a timely manner, (4) risks related to disruption of management time from ongoing business operations due to the proposed transactions, (5) failure to realize the estimated synergies or growth from the proposed transactions or that such benefits may take longer to realize than expected, (6) risks related to unanticipated costs of integration of GetGo by LogMeIn, (7) the effect of the consummation of the proposed transactions on the ability of LogMeIn and Citrix to retain and hire key personnel and maintain relationships with their key business partners and customers, and on their operating results and businesses generally, (8) the length of time necessary to consummate the proposed transactions, (9) adverse trends in economic conditions generally or in the industries in which the LogMeIn and Citrix operate, (10) adverse changes to, or interruptions in, relationships with third parties unrelated to the announcement, (11) LogMeIn’s ability to compete effectively and successfully and to add new products and services, (12) LogMeIn’s ability to successfully manage and integrate acquisitions, (13) the ability to attract new customers and retain existing customers in the manner anticipated, (14) unanticipated changes relating to competitive factors in the parties’ industries, and (15) the business interruptions in connection with the LogMeIn’s technology systems. Discussions of additional risks and uncertainties are contained in LogMeIn’s and Citrix’s filings with the U.S. Securities and Exchange Commission (the “SEC”). None of LogMeIn, Citrix or GetGo is under any obligation, and each expressly disclaim any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Persons reading this announcement are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. LogMeIn Contacts: Investors Rob Bradley 781-897-1301 [email protected] Press Craig VerColen 781-897-0696 [email protected] |