LogMeIn Snaps Up Rival Video Conferencing Service From Citrix

It’s conferencing convergence time!

Story by Barb Darrow, Fortune
LogMeIn, the Boston company that offers a web conferencing service, is acquiring Citrix-owned rival GoToMeeting. The deal is valued at about $1.8 billion.

The combined conferencing business, should take in $1 billion in (pro forma) revenue in its first year, the companies said. And it will have bigger reach to help compete with Cisco’s WebEx, Microsoft Skype for Business, and Blue Jeans Network. Business-focused paid services are all feeling intense pressure from free or near free consumer video conferencing alternatives like Google Hangouts and Microsoft Skype.

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