{"id":44609,"date":"2021-12-14T17:11:06","date_gmt":"2021-12-14T17:11:06","guid":{"rendered":"https:\/\/www.threatshub.org\/blog\/popular-password-manager-lastpass-to-be-spun-out-from-logmein\/"},"modified":"2021-12-14T17:11:06","modified_gmt":"2021-12-14T17:11:06","slug":"popular-password-manager-lastpass-to-be-spun-out-from-logmein","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/popular-password-manager-lastpass-to-be-spun-out-from-logmein\/","title":{"rendered":"Popular password manager LastPass to be spun out from LogMeIn"},"content":{"rendered":"<p>One of the biggest beasts in the password management world, LastPass, is being spun out from parent LogMeIn as a &#8220;standalone cloud security&#8221; organisation.<\/p>\n<p>&#8220;The success we&#8217;ve seen across the entire LogMeIn portfolio over the last 18 months proves there is a vast growth opportunity ahead for both LastPass and LogMeIn,&#8221; said Andrew Kowal, a partner at Francisco Partners.<\/p>\n<p>Francisco Partners, a private equity business, <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2019\/12\/18\/log_me_in_acquired\/\" rel=\"noopener\">bought the bundle<\/a> of remote access, collab and password manager tools \u2013&nbsp;which also includes <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2016\/07\/26\/citrix_logmein_goto\/\" rel=\"noopener\">Citrix&#8217;s GoTo<\/a> business \u2013 in 2019 for $4.3bn.<\/p>\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"top\" data-raptor=\"condor\" data-xsm=\",fluid,mpu,\" data-sm=\",fluid,mpu,\" data-md=\",fluid,mpu,\"> <noscript> <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=2&amp;c=2YcyURmqBbfya3t7T@NwcegAAABU&amp;t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=2&amp;c=2YcyURmqBbfya3t7T@NwcegAAABU&amp;t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0\" alt> <\/a> <\/noscript> <\/div>\n<p>&#8220;The substantial scale of LastPass, its tremendous growth, and its market leading position and brand makes it a perfect candidate to seize new opportunities as its own standalone company,&#8221; said Bill Wagner, CEO and prez of LogMeIn, in a canned statement.<\/p>\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"top\" data-raptor=\"falcon\" data-xmd=\",fluid,mpu,leaderboard,\" data-lg=\",fluid,mpu,leaderboard,\" data-xlg=\",fluid,billboard,superleaderboard,mpu,leaderboard,\" data-xxlg=\",fluid,billboard,superleaderboard,brandwidth,brandimpact,leaderboard,mpu,\"> <noscript> <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44YcyURmqBbfya3t7T@NwcegAAABU&amp;t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44YcyURmqBbfya3t7T@NwcegAAABU&amp;t=ct%3Dns%26unitnum%3D426raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" alt> <\/a> <\/noscript> <\/div>\n<div class=\"adun_eagle_desktop_story_wrapper\">\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"mid\" data-raptor=\"eagle\" data-xxlg=\",mpu,dmpu,\"> <noscript> <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=3&amp;c=33YcyURmqBbfya3t7T@NwcegAAABU&amp;t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=3&amp;c=33YcyURmqBbfya3t7T@NwcegAAABU&amp;t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0\" alt> <\/a> <\/noscript> <\/div>\n<\/p><\/div>\n<p>LogMeIn itself <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2015\/10\/09\/logmein_gobbles_lastpass\/\" rel=\"noopener\">bought lastPass in 2015<\/a>.<\/p>\n<p>The &#8220;global shift to remote working has also fueled the adoption of new accounts and applications,&#8221; said LogMeIn. It added that &#8220;50 per cent of people in the 2021 Psychology of Passwords research reported twice the number of accounts today, compared to pre-pandemic levels,&#8221; raising the question of why it wouldn&#8217;t expose any of its own customer growth numbers in the release.<\/p>\n<div aria-hidden=\"true\" class=\"adun\" data-pos=\"top\" data-raptor=\"falcon\" data-xsm=\",fluid,mpu,\" data-sm=\",fluid,mpu,\" data-md=\",fluid,mpu,\"> <noscript> <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44YcyURmqBbfya3t7T@NwcegAAABU&amp;t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=4&amp;c=44YcyURmqBbfya3t7T@NwcegAAABU&amp;t=ct%3Dns%26unitnum%3D426raptor%3Dfalcon%26pos%3Dmid%26test%3D0\" alt> <\/a> <\/noscript> <\/div>\n<p>In 2018, the then-public LogMeIn made revenues of $1.2bn and profits of $446m. The private firm <a target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1420302\/000156459019003676\/logm-10k_20181231.htm\" rel=\"noopener\">said today<\/a> it made &#8220;over $1.3bn in annual revenue&#8221; in 2021, a rise of about 8 per cent. LastPass, by contrast, had managed a &#8220;50 per cent compound annual growth rate&#8221; over the last three years.<\/p>\n<p>LogMeIn&#8217;s competition includes Bitwarden, 1Password, Dashlane, Keeper, NordPass and open-source password manager <a target=\"_blank\" href=\"https:\/\/sourceforge.net\/projects\/keepass\/\" rel=\"noopener\">KeePass<\/a>.<\/p>\n<p>According to the <a target=\"_blank\" href=\"https:\/\/www.logmein.com\/newsroom\/press-release\/2021\/logmein-set-to-establish-lastpass-as-an-independent-cloud-security-company-amid-strong-market-demand\" rel=\"noopener\">press statement<\/a>, LogMeIn has 2 million &#8220;customers&#8221; and 30 million users, many of whom will be on its freemium tier.<\/p>\n<p>LogMeIn said today it planned to &#8220;increase investment in the customer experience&#8221; for the new standalone business and said customers would see &#8220;planned enhancements on an accelerated timeline in 2022, with the benefit of additional dedicated LastPass resources.&#8221;<\/p>\n<p>In <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2021\/02\/16\/lastpass_pricing_changes\/\" rel=\"noopener\">February this year<\/a> LogMeIn tried to heave some of those freemium fans onto paid plans by limiting them to one device type only: computer or mobile. How did that go? Well according to today&#8217;s announcement, &#8220;the significant majority&#8221; of its business is still corporate customers.<\/p>\n<div aria-hidden=\"true\" class=\"adun\" id=\"story_eagle_xsm_sm_md_xmd_lg_xlg\" data-pos=\"mid\" data-raptor=\"eagle\" data-xsm=\",mpu,dmpu,\" data-sm=\",mpu,dmpu,\" data-md=\",mpu,dmpu,\" data-xmd=\",mpu,dmpu,\" data-lg=\",mpu,dmpu,\" data-xlg=\",mpu,dmpu,\"> <noscript> <a href=\"https:\/\/pubads.g.doubleclick.net\/gampad\/jump?co=1&amp;iu=\/6978\/reg_security\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=3&amp;c=33YcyURmqBbfya3t7T@NwcegAAABU&amp;t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" src=\"https:\/\/pubads.g.doubleclick.net\/gampad\/ad?co=1&amp;iu=\/6978\/reg_security\/front&amp;sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&amp;tile=3&amp;c=33YcyURmqBbfya3t7T@NwcegAAABU&amp;t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0\" alt> <\/a> <\/noscript> <\/div>\n<p>Also in February, LastPass came in for criticism after a security researcher recommended against the password manager&#8217;s Android app after noting <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2021\/02\/25\/lastpass_android_trackers_found\/\" rel=\"noopener\">seven embedded trackers<\/a> in the software. LogMeIn said at the time that users can opt out if they want.<\/p>\n<p><i>El Reg<\/i> today spotted Apache&#8217;s Log4j 2.x \u2013&nbsp;vulnerable to a remote code execution hole <a target=\"_blank\" href=\"https:\/\/logging.apache.org\/log4j\/2.x\/security.html\" rel=\"noopener\">CVE-2021-44228<\/a> \u2013 among <a target=\"_blank\" href=\"https:\/\/lastpass.com\/docs\/licenses.php\" rel=\"noopener\">Lastpass&#8217;s list of third party software licences<\/a>. LastPass told <i>The Reg<\/i> it had released a patch for the <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2021\/12\/10\/log4j_remote_code_execution_vuln_patch_issued\/\" rel=\"noopener\">vulnerability<\/a> for &#8220;impacted customers.&#8221;<\/p>\n<p>Version 2.15 of Log4j was released with part of the exploitable functionality disabled by default last week; version 2.16 is also out and completely kills off the insecure feature by default. \u00ae<\/p>\n<p> READ MORE <a href=\"https:\/\/go.theregister.com\/feed\/www.theregister.com\/2021\/12\/14\/lastpass_spinout\/\">HERE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Private equity owners play pass the parcel One of the biggest beasts in the password management world, LastPass, is being spun out from parent LogMeIn as a &#8220;standalone cloud security&#8221; organisation.\u2026 READ MORE HERE&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[63],"tags":[],"class_list":["post-44609","post","type-post","status-publish","format-standard","hentry","category-the-register"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Popular password manager LastPass to be spun out from LogMeIn 2026 | ThreatsHub Cybersecurity News<\/title>\n<meta name=\"description\" content=\"ThreatsHub Cybersecurity News | ThreatsHub.org | Cloud Security &amp; Cyber Threats Analysis Hub. 100% Free OSINT Threat Intelligent and Cybersecurity News.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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