LogMeIn, Inc. acquired Bold Software, LLC, to expand LogMeIn's portfolio of web-based services aimed at customer care organizations such as call centers, external help desks, and customer service teams. Bold Software is a provider of web chat and customer communications software.
LogMeIn acquired substantially all of the net assets of Bold Software for a total value of approximately $16.5 million in cash, a portion of which is contingent retention-based bonuses and is expected to be paid over time. According to a statement, "LogMeIn expects the acquisition to be accretive to its non-GAAP operating results within twelve months and will provide more details regarding the financial terms of the transaction during its fourth quarter 2011 financial results conference call."
Bold Software's BoldChat product line offers a live chat and click-to-call customer service solution. BoldChat will continue to function as a standalone service; LogMeIn plans to integrate BoldChat with its other product lines in order to deliver a suite of cloud-based customer services, including LogMeIn Rescue.