Furious LastPass fans fear password wrangler's fate amid LogMeIn's gobble
Firm tells users to stop sweating it over $125m buyout
LastPass has been acquired by LogMeIn, and people are deeply unhappy about the deal.
The password manager announced on Friday that it was being gobbled up by the remote-desktop software biz LogMeIn for $125m. It's expected that the deal will close over the next several weeks.
LogMeIn didn't provide details about what it would do with LastPass, but did say the password vault could be integrated with its previously acquired Meldium password manager.
"We believe this transaction instantly gives us a market-leading position in password management, while also providing a highly favorable foundation for delivering the next generation of identity and access management solutions to individuals, teams, and companies," LogMeIn CEO Michael Simon said.
Shortly after news of the buyout broke, LastPass fans quickly began complaining about their beloved password vault joining forces with LogMeIn. The LastPass forum has been beset with angry folks voicing their displeasure.
"I simply will not have anything to do with LogMeIn and will now start looking for an alternative," wrote one user. "It's too bad, as I really appreciate LastPass and its multi-platform functionality and am/was a Premium subscriber."
"Can't think of anything worse for LastPass. What's the best alternative now?" asked another. "I shudder at the thought of LogMeIn having ANY details of mine. Ever."
The outpouring of anger drove LastPass chief Joe Siegrist to issue a statement to calm down his disgruntled peeps.
"First of all, we (LogMeIn/LastPass) have no plans to change our existing business model," he said. "Secondly, this acquisition provides us with access to resources that will enable us to innovate faster, as we continue to strive to deliver an even better product than the one you have come to know and love."
Many, however, have already begun making plans to look elsewhere for their password lockers. If you're wondering why LogMeIn has such a bad rep, here's some previous coverage for starters. ®