News, tips, advice, support for Windows, Office, PCs & more. Tech help. No bull. We're community supported by donations from our Plus Members, and proud of it
Home icon Home icon Home icon Email icon RSS icon
  • LastPass to be acquired, taken private

    Home Forums AskWoody blog LastPass to be acquired, taken private

    Tagged: 

    • This topic has 16 replies, 13 voices, and was last updated 5 months ago.
    Viewing 8 reply threads
    • Author
      Posts
      • #2020999 Reply
        woody
        Da Boss

        LogMeIn Inc — the maker of LogMeIn and LastPass — announced yesterday that it will be acquired by two private equity firms. Martin Brinkmann has the
        [See the full post at: LastPass to be acquired, taken private]

        1 user thanked author for this post.
      • #2021013 Reply
        MrJimPhelps
        AskWoody_MVP

        I guess when someone offers you $4.3 billion dollars, you take the money and run.

        Group "L" (Linux Mint)
        with Windows 8.1 running in a VM
        2 users thanked author for this post.
      • #2021047 Reply
        Canadian Tech
        AskWoody_MVP

        I was a logmein customer for years. I used it for all my 150 or so client computers.
        It was bought out
        All development ceased
        Customer service was degraded
        Prices were raised markedly

        Then it was sold again
        No development
        Customer service got worse
        Prices went up dramatically

        I looked elsewhere and found a better product for about 1/4 the price — Team Viewer
        Excellent customer service
        On-going development

        Now Logmein is sold again. I predict a bad future for the product

        CT

        3 users thanked author for this post.
        • #2021066 Reply
          anonymous
          Guest

          I don’t have any experience with LogMeIn, but it frequently happens when you have Private Equity companies involved, they’re often looking to maximize short-term cash flow over any other considerations.

          For what Canadian Tech has mentioned, this one has the feel of that happening again, including to brands such as LastPass and GoToMeeting.

          Over the years, I’ve often enough been the customer of vendors that are acquired by others to know that it frequently does not go well.

          For users of those products (including free versions of LastPass), it’s a good idea to start planning for migration to other products, rather than being forced into reworks of what you already have.

          7 users thanked author for this post.
        • #2021077 Reply
          fk5353
          AskWoody Plus

          We have used LogMeIn almost since it started and LogMeIn Central since its start. And we have also had the same experience as others with both price and customer service. But we grit our teeth and stayed with it. This sale to a private equity firm may be what it takes to get us to jump-ship. From the customer perspective, I’ve rarely seen this turn out well in the past.

          For the third year in a row, we are actively looking at alternatives because of price and the fact we find about 50 percent of Central simply doesn’t work well or doesn’t apply to us. If I may ask others, were you ever a Central user? Was the transition from LogMeIn to TeamViewer or other alternative difficult?

          • This reply was modified 5 months, 2 weeks ago by fk5353.
          • This reply was modified 5 months, 2 weeks ago by fk5353.
          1 user thanked author for this post.
          • #2021082 Reply
            Canadian Tech
            AskWoody_MVP

            fk5353, trust me, Team Viewer is a significantly superior product. Call them. They are very good. I have been using TV for a couple of years now and I am delighted. I regret I did not make the move much sooner.

            CT

            2 users thanked author for this post.
          • #2021126 Reply
            EspressoWillie
            AskWoody Plus

            We did the same thing.  Had lousy experience with LogMeIn and switched to TeamViewer a few years ago.  Was easy and quick to convert our clients.  Should have done it even sooner…

            BTW I have used KeyPass forever and it’s wonderful (and free).  Anything LogMeIn leaves a bad taste in my mouth now (IMHO).

            Cheers!!
            Willie McClure
            www.datarim.com
            Talk's cheap, takes money to buy whiskey.
            1 user thanked author for this post.
        • #2023057 Reply
          anonymous
          Guest

          Has TeamViewer fixed their security issues?  They had 3 major breaches in the span of 2 years, didn’t they?  LMI was good back in 2014 when I last used it for work, but I’ve always been leery about using software that phones home to a third-party service I have no control over.

          Currently I’m using Meraki which seems good enough for remote access and seems more secure than LMI.  I suspect a lot more expensive but that’s not my concern in my current position.  While more basic without a unified phonebook, I’m still a proponent of Radmin, Dameware, or VNC.  Maybe even RDP if the major issues have been fixed.  It keeps your information off of other people’s systems.  If something changes as you need to access a PC whose IP you don’t know, something like Join.Me works fine.

          • #2023135 Reply
            Rick Corbett
            AskWoody_MVP

            Has TeamViewer fixed their security issues? They had 3 major breaches in the span of 2 years, didn’t they?

            I’m aware of one breach in June 2016 but TeamViewer denied any data was lost from TeamViewer itself. If I remember correctly the company laid the blame solely on the re-use of username/password combos when using TeamViewer accounts. Those who don’t use a TeamViewer account (or don’t re-use combos) were apparently not affected. remember reading that the company subsequently introduced 2FA on TeamViewer accounts.

            I’m interested if you know of more than this June 2016 incident (with links).

            Hope this helps…

            1 user thanked author for this post.
      • #2021106 Reply
        Umbongo
        AskWoody Plus

        When a successful start-up is bought from its founders, the price reflects the value placed on the company by the market at the time of the sale.  Accordingly, unless the founders are badly advised, there is little excess value in the business which is easily extractable by the buyers.  Consequently, the new owners must either “sweat” the assets (ie somehow obtain a greater income from the existing assets of the company – make the assets work harder) or sell off the existing assets piecemeal (assuming that the aggregated value of the individual parts of the company is greater than the whole).  Either way, it’s unlikely that existing customers or employees of the company will see better service, on one hand, or better salaries/conditions on the other.  For the customer, prices go up, service declines and hitherto “dormant” assets (eg customer data) are monetised: an old story but not a happy one

        1 user thanked author for this post.
      • #2021197 Reply
        SAS@HA
        AskWoody Lounger

        Gah, just when I thought LastPass couldn’t get any worse. I only use it because it’s what the company decided on in the past. I would never, ever recommend it to anyone. It’s clear that they just take subscription money and funnel it up to some other corporate layer.

         

        Hopefully we’ll switch to another password solution soon. I know a small department already went rogue and started using something else.

      • #2021439 Reply
        mlmarshal
        AskWoody Plus

        Hmmmm….. I was going to ask whether this buy was a good thing or a bad thing. So far, it doesn’t look like a good thing. Guess it’s time to find another PW manager. Merry Freakin’ Christmas. Humbug, I tell you. Humbug!

        There are 10 kinds of people:
        those who understand binary numbers
        and those who don't.

        • #2021782 Reply
          Rick Corbett
          AskWoody_MVP

          I hear you on ‘Bah, humbug’ and raise you one… 🙂

      • #2021710 Reply
        Microfix
        AskWoody MVP

        Lastpassout
        🙂

        Win7 Pro x86/x64 | Win8.1 Pro x64 | Linux Hybrids x86/x64 |
        Attachments:
        5 users thanked author for this post.
      • #2021781 Reply
        Rick Corbett
        AskWoody_MVP

        Apropos of LogMeIn, TeamViewer users (like me) may have noticed (like me) that a timeout has been implemented into connections for purely personal use (like me). 🙁

        1 user thanked author for this post.
        • #2022031 Reply
          ve2mrx
          AskWoody Plus

          After being wrongly flagged “Commercial use” three times, I moved to AnyDesk Free.

          Maybe they don’t like my network equipment (Ubiquiti router), my antivirus (Eset business) or my backup software (Acronis Backup), but I am still a home, non-commercial user.

          I hate short-term support consumer routers. As a form of self-training, I set up a management server for Ubiquiti devices, and manage a few friends APs and routers. I support my family, so I use business antivirus with a management server that’s not even in my home but in my mom’s. And consumer backup solutions did not fit my needs a few years ago. I’m usually supporting computers professionally, but not from my home. I like to explore stuff, so my network is not a typical home network, agreed.

          TeamViewer doesn’t want freeloaders, look it up on Reddit!

          Martin

          • This reply was modified 5 months, 1 week ago by ve2mrx. Reason: Added Ubiquiti clarification
      • #2038196 Reply
        rc primak
        AskWoody_MVP

        For password management,there have been for a long time better, more secure and equally convenient alternatives. Keepass and its cross-platform cousin works well in that department.

        As for LogMeIn, I never trusted the organization, though I haven’t heard any stories of serious security issues if folks were being wise with their passwords. Kinda like the so-called “Ring Web Cam Hacks” which have made headlines recently. Good password hygiene was not practiced by those who got “hacked”. That isn’t a hack or a crack — it’s the inevitable result of using products right out of the box with little or no effort being put into setup and configuration.

        It isn’t the tech companies’ fault when end users are too lazy or too naive to take reasonable precautions. The only effective way to solve this issue is to make people literally wear surgically implanted dongles or chips. I for one don’t look forward to that solution.

        With several good free and even open-source alternatives, I feel no need to tie myself to either LastPass or LogMeIn.

        -- rc primak

        1 user thanked author for this post.
    Viewing 8 reply threads

    Please follow the -Lounge Rules- no personal attacks, no swearing, and politics/religion are relegated to the Rants forum.

    Reply To: LastPass to be acquired, taken private

    You can use BBCodes to format your content.
    Your account can't use Advanced BBCodes, they will be stripped before saving.