On July 28, 2016, Citrix Systems Inc. struck a deal to merge its virtual-meeting division with LogMeIn Inc. that would beef up a business Citrix was already planning to spin off.The deal is to be structured as a so-called Reverse Morris Trust, a tax-free transaction. This has been popular as of late for companies looking to slim down.The deal values LogMeIn at $1.8 billion, a slight premium to the company’s market value at the close of trading on Tuesday.
Citrix Systems, Inc. is an American multinational software company. Citrix provides server, application and desktop virtualization. Along with networking, software as a service, and cloud computing technologies.
GoToMeeting is a web-hosted service created and marketed by the Online Services division of Citrix Systems. It is an online meeting, desktop sharing, and video conferencing software that enables the user to meet with other computer users, customers, clients or colleagues via the Internet in real time.
LogMeIn, Inc., founded in 2003 and based in Boston, Massachusetts, is a provider of software as a service and cloud-based remote connectivity services for collaboration, IT management and customer engagement.
You can find more information about Citrix’s announcement on WSJ.com