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LogMeIn announces merger with Citrix’s GoTo family of products to create billion dollar industry leader

4:21pm EDT

LogMeIn Inc : LogMeIn announces merger with Citrix’S GoTo family of products to create billion dollar industry leader . Deal for 1.8 billion . Bill Wagner, LogMeIn president and CEO, to lead combined company . LogMeIn plans to issue $1.50 per share in dividends to its shareholders prior to closing . LogMeIn's bill wagner will continue in his role as president and CEO . LogMeIn's Ed Herdiech will serve as Chief Financial Officer . Combined company is expected to achieve run rate cost synergies of more than $100 million within two years post-close . Combined company will be headquartered in Boston. . Combination to result in Citrix equityholders receiving approximately 27.6 million LogMeIn shares on a fully diluted basis . Under RMT structure, transaction is expected to be tax-free to Citrix and its shareholders for U.S. Federal income tax purposes . Expects combined company to have pro forma revenue of more than $1 billion . Expects combined co to have anticipated pro forma 35%+ free cash flow accretion over standalone LogMeIn (after year one run rate cost synergies) . Run rate cost synergies of $65 million expected in year one and more than $100 million expected in year two . Citrix and LogMeIn shareholders to each own approximately 50% of combined company . Certain members of GoTo management team are expected to join combined company as well.

LogMeIn announces merger with Citrix's GoTo family of products

4:00pm EDT

Logmein Inc : LogMeIn announces merger with Citrix's GoTo family of products to create billion dollar industry leader . Deal for $1.8 billion . Run rate cost synergies of $65 million expected in year one and more than $100 million expected in year two . Bill Wagner, LogMeIn president and CEO, to lead combined company . Citrix and LogMeIn shareholders to each own approximately 50% of combined company . LogMeIn plans to issue $1.50 per share in dividends to its shareholders prior to closing . LogMeIn's Bill Wagner will continue in his role as president and CEO . LogMeIn's Ed Herdiech will serve as chief financial officer . Certain members of GoTo management team are expected to join combined company as well . Combined company is expected to achieve run rate cost synergies of more than $100 million within two years post-close . Board will form an operating committee upon close of transaction, which will consist of two LogMeIn directors and two Citrix directors . Combined company will be headquartered in Boston . Combination to result in Citrix equity holders receiving approximately 27.6 million LogMeIn shares on a fully diluted basis . Under RMT structure, transaction is expected to be tax-free to Citrix and its shareholders for U.S. federal income tax purposes . Expects combined company to have pro forma revenue of more than $1 billion.

Geoop appoints Russel King CFO

Monday, 25 Jul 2016 09:00pm EDT

GeoOp Ltd : Appointment of CFO and company secretary . Russel King has been appointed chief financial officer and company secretary, . Russel king takes over role as chief financial officer, from Rachel White, who has served as interim chief financial officer .

NJK names Katsumasa Ishikawa as new president

Sunday, 24 Jul 2016 10:43pm EDT

NJK Corp <9748.T> :Says it names Katsumasa Ishikawa as new president to replace Hitoshi Tanimura, effective on Aug. 1.

Reffind says Jamie Pride resigned as Managing Director

Thursday, 21 Jul 2016 07:44pm EDT

Reffind Ltd : Director resignation . Jamie pride has resigned today as managing director . Robert Van Es, the chief operating officer (COO) will be acting chief executive officer . Says robert van es is also a candidate for the position of CEO .

Surveymonkey says appoints Tom Hale as President

Thursday, 21 Jul 2016 06:16pm EDT

Surveymonkey : Hale has served in senior positions at Linden Lab and Adobe systems .Surveymonkey says appoints Tom Hale as president.

Micro Systemation appoints Henrik Bergentoft new CFO

Monday, 18 Jul 2016 07:54am EDT

Micro Systemation publ AB : MSAB has appointed Henrik Bergentoft as the new CFO of the Company .Bergentoft begins his position August 22, 2016.

Frankly appoints Lou Schwartz as new CFO

Thursday, 14 Jul 2016 08:00am EDT

Frankly Inc : Frankly appoints new chief financial officer . Frankly appoints new chief financial officer . Appointed chief operating officer Lou Schwartz as chief financial officer, effective immediately . Schwartz succeeds Avi Aronvitz . Frankly Inc says Lou Schwartz as chief financial officer, effective immediately .Schwartz will also continue to serve in his position as COO.

Symantec appoints Michael Fey president, COO upon closing of Blue Coat acquisition

Monday, 11 Jul 2016 04:05pm EDT

Symantec Corp : Appoints Michael Fey as president and chief operating officer upon closing of Blue Coat acquisition .Co and Blue Coat leaders are working on identifying combined company’s complete executive team post-close.

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Analyst Research

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Provider : Edison Investment Research
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Provider : Edison Investment Research
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Provider : Edison Investment Research
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Provider : Edison Investment Research
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Provider : Edison Investment Research
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