Last of Lastpast? Sold to equity firm.

[TechyBen]

I don't have much to say right now, and have to head out... so sorry for little comment. But LastPass owner, LogMeIn (where and when should I use caps?  ), has been purchased by an equity firm Francisco Partners.

https://www.theregister.co.uk/2019/12/18/log_me_in_acquired/

Quote

Remote access, collaboration and password manager provider LogMeIn has been sold to a private equity outfit for $4.3bn.

It could mean nothing changes. It could do a Google/Amazon/Apple etc and spin out and be closed down. But I doubt they purchased it for the patents to just close down. Probably a real "investment" hoping the IOTs world et all need more password managers. Hopefully it won't affect pricing and services too much through wanting to make a quick return. They could instead sit on it and hope the user base and possible advertising/side/cross sales is worth more in the future to sell on to the next mark... um sucker... um, I mean "investor".

 

Phew. I'm not cynical... just realistic, honest!

[Jumballi]

Looks like they have many divestitures in tech, including plex, so I'm going to bet that they plan to keep lastpass, or at least make sure the product that lastpass provides, alive. With some of the of the companies in their portfolio, they could possibly spin them into a single company and we got a mid range player on the field. As far as I can tell though, they seem to buy a company, make that company larger and more profitable, but not necessarily setting the company on a downward spiral, and then resell in a couple years for profit.

[ZacoAttaco]

$4.3b is quite an impressive figure. Goes to show how important these password managers are. 

[Levent]

54 minutes ago, ZacoAttaco said:

$4.3b is quite an impressive figure. Goes to show how important these password managers are. 

LogMeIn is a much bigger company than one expects. They are in various sectors in IT.

[HarryNyquist]

54 minutes ago, Levent said:

LogMeIn is a much bigger company than one expects. They are in various sectors in IT.

If they're so big why does Skype for Business murder GoToMeeting in every way possible

[RejZoR]

I frankly couldn't trust my entire internet security to a product that's being constantly handed over between owners. Bitwarden feels more secure in this regard. The author is not greedy and he seems to be happy with the way things are going financially. I'm ok with that.

[williamcll]

17 hours ago, ZacoAttaco said:

$4.3b is quite an impressive figure. Goes to show how important these password managers are. 

Maybe it's the price of all the accounts they now have access to.

[ZacoAttaco]

20 hours ago, williamcll said:

Maybe it's the price of all the accounts they now have access to.

If that’s the case it would be well in excess of $4.3b.

[vorticalbox]

On 12/20/2019 at 4:03 AM, williamcll said:

Maybe it's the price of all the accounts they now have access to.

Lastpass encrypts data before being uploaded, if you forget your password and aren't currently logged in anywhere it's game over for all your logins.

 

 

Ive personally moved over to lock wise and firefox

[manikyath]

seeing LogMeIn's portfolio.. i'd say lastpass is nothing more than "collateral damage" in the aquisition.

 

i doubt lastpass is worth even 1% of that price. it's most likely the remote access and centralized management products that are the points of interest. even *if* the new parent company has bad intent, chances are they're targetting the other prooducts, and not even bother messing with lastpass.

[Donut417]

My hope is they keep on trucking. I rely on Lastpass for all my passwords. If not Id need to find another password manager that works with Linux and iOS. 

[amdorintel]

On 12/19/2019 at 1:50 AM, TechyBen said:

so sorry for little comment.

as long as you make any comment, it meets the criteria

 

$4.3B is unimaginable to me

 

i should try a pw manager

[jagdtigger]

Keepass FTW. No cloud insecure storage and even if the company goes bust i can keep the installers to keep using it.

[RejZoR]

2 hours ago, Tony Tony Chopper said:

 

I hope you aren't re using passwords elsewhere and use unique password for every single account.

No, I'm using password manager with unique and very long passwords, but it's not LastPass.

[ZacoAttaco]

18 hours ago, Tony Tony Chopper said:

I hope you aren't re using passwords elsewhere and use unique password for every single account.

Yeah people don't seriously think about that but reusing password is actually the easiest way for threat actors to compromise your account. They just keep trying these password combinations across different sites until eventually they come across a reused password. 

[kirashi]

On 12/19/2019 at 12:50 AM, TechyBen said:

I don't have much to say right now, and have to head out... so sorry for little comment. But LastPass owner, LogMeIn (where and when should I use caps?  ), has been purchased by an equity firm Francisco Partners.

https://www.theregister.co.uk/2019/12/18/log_me_in_acquired/

Thank goodness - the sooner LogMeIn goes out of business, the better. Their support staff turned a blind eye to the company data breach back in the early 2010's, so much so that they flat out lied to those who started receiving spam emails to emails that had only been used with their service. #logmeout

  

21 hours ago, jagdtigger said:

Keepass FTW. No cloud insecure storage and even if the company goes bust i can keep the installers to keep using it.

Also, this. If you don't have access to the source code of both the client and server, you cannot be 99.9999% certain your data is secure.

[Harry Voyager]

On 12/23/2019 at 6:29 AM, Tony Tony Chopper said:

 

I hope you aren't re using passwords elsewhere and use unique password for every single account.

Honestly, I tend to use use tiers, and even then, when I wrote down all of my personal use passwords, it was something on the order of five pages long. That's an entirely separate list from the ones I had professionally too. 

 

There, some of those have reached the point where I don't actually memorize them, I just go through the entire password recovery process any time I actually need to access the thing. 

 

And don't even get me started on the number of five digit door combinations. Did you know if you pull a random selection of numbers there's much larger than you would expect chance that you will draw the same number twice. I believe it's called the Birthday Problem, and, if I recall correctly is why Eve Online ended up having to refactor their code base in order to add German to the supported langauges. Bugs are weird... 

[RejZoR]

On 12/24/2019 at 8:10 AM, kirashi said:

Thank goodness - the sooner LogMeIn goes out of business, the better. Their support staff turned a blind eye to the company data breach back in the early 2010's, so much so that they flat out lied to those who started receiving spam emails to emails that had only been used with their service. #logmeout

  

Also, this. If you don't have access to the source code of both the client and server, you cannot be 99.9999% certain your data is secure.

There is also Bitwarden... Prehosted cloud or your own hosting. And it's run by a guy who seems to be happy with the way things are going on his own. Being greedy sucks for end users because it'll end up shifting owners like LastPass has. And that's just crap with something as critical as login passwords.

[Guest]

Didn't know Lastpass was that popular. The only LogMeIn product I've used is Hamachi (for cracked Minecraft server?)

[Video Beagle]

On 12/22/2019 at 7:28 PM, Donut417 said:

My hope is they keep on trucking. I rely on Lastpass for all my passwords. If not Id need to find another password manager that works with Linux and iOS. 

I like 1Password.

[lloose]

I have been a Lastpass user about 6 years and liked it. I was a litte wary when they were bought out by logmein but I stuck through it. Recently people have been saying that they are seeing popups asking them to upgrade and the free tier only saves 20 logins. This was confirmed on the lastpass subreddit as a "trial" for targeted audiences. That was enough fro me to move everything to Bitwarden. Been happy so far with that and using Authy for my 2fa.