LogMeIn has agreed to buy Nanorep in a $50 million deal that will bolster LogMeIn’s new customer engagement platform, which the provider of remote authentication and connectivity services launched in June. Founded in 2009, Nanorep uses natural language processing to improve chatbots and other digital self-services; LogMeIn plans to offer Nanorep as a standalone product. The startup had raised equity financing from VCs including JAL Ventures and OurCrowd, with clients including FedEx and Vodafone.
The deal represents LogMeIn’s first since February’s $1.8 billion merger with GetGo, formerly a subsidiary of Citrix Systems. LogMeIn has completed eight M&A deals since going public in 2009, per the PitchBook Platform. The Israel-headquartered Nanorep represents only the second acquisition outside North America for the Boston-based LogMeIn.
Article by PitchBook
