LogMeIn buys Jive Communications for $342 million
Remote access software maker LogMeIn is acquiring Jive Communications for $342 million in an aim to bolster its collaboration and communication portfolios.
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Based in Utah and founded in 2006, Jive is a player in the Unified Communications-as-a-Service (UCaaS) space, and is touted to have a skilled R&D team that's built a modern architecture from the ground up, along with a distributed multitenant cloud platform for unified communications.
Jive claims to have 20,000 customers worldwide and a strong growth rate in the UCaaS market -- which LogMeIn says is seven times larger than its current web conferencing software market.
LogMeIn, which owns GoToMeeting, GoToWebinar, OpenVoice and join.me, said the deal will add a host of unified communications services and ultimately accelerate its own UCaaS strategy.
"We believe the combination of Jive's award-winning voice, video, contact center and mobile applications with our leading collaboration products will give LogMeIn one of the best and most comprehensive UCC offerings in the market," said LogMeIn CEO Bill Wagner.
"The result is a deal that will accelerate our overall growth, set a new standard in the UCC market, and provide us with a foundation upon which we'll build the next generation of LogMeIn's UCC portfolio."
The deal is one of LogMeIn's more sizable investments since acquiring the GoTo product line from Citrix last January for $1.8 billion. In 2015, LogMeIn bought password management software startup LastPass for $110 million, and last August it acquired Israeli software firm Nanorep for around $45 million.
When the Jive deal closes, Jive CEO John Pope will continue to run the business, reporting directly to Wagner.
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