We’re thrilled to share that our first Lighter Capital client, Jive Communications, has been acquired by LogMeIn for up to $375M.
LogMeIn, which offers conferencing services similar to GoToMeeting and join.me as well as authentication and other online services to businesses and others, announced that it would acquire Jive Communications for $342 million in cash plus up to $15 million based on reaching specific milestones in the next two years, according to TechCrunch. The deal will add a suite of unified communications services that will complement and expand on LogMeIn’s existing collaboration products.
Jive has 20,000 customers globally, LogMeIn said. Its primary focus is on VoIP for enterprises, and specifically hosted VoIP.
Jive Communications is a Utah-based startup founded in 2006. CEO John Pope and his team raised $32M in funding over the years, including revenue-based financing investments from Lighter Capital in 2010 and 2011.
The company’s $300+ million exit is a testament to steadily building a business focused on customer success and innovation.
The deal will give Jive the opportunity to scale its business through LogMeIn’s 25 million users, clocking seven million meetings, and over 900 million conferencing minutes each month.
Congratulations to John and the team on building a great business and your successful exit!