Identity and access management specialist LogMeIn has agreed to buy Marvasol. The creators of LastPass.
The deal is valued between US$110 million and $125 million and expected completion in a matter of weeks. LogMeIn sees LastPass’s more consumer-focused customer base and tools as important to deal with the bring-your-own-device and bring-your-own-app challenges faced by its existing corporate customers.
It intends to add features to LastPass found in the identity management tool Meldium that it acquired a year ago. Meldium is a password manager for teams, designed to work with collaboration tools such as Box, Github, Google Apps, Zendesk or Slack. For now LogMeIn plans to maintain both product lines, but ultimately expects to merge the two under the LastPass brand.