LogMeIn: Making fortune from connecting

LogMeIn, a Hungarian born startup company has grown to become one of the world’s leading SaaS companies with over 800 employees in eight offices around the world. Its Budapest-office remains one of the most important development base.

LogMeIn, Inc.(founded in 2003 and now based in Boston, Massachusetts), is a provider of cloud-based remote connectivity services for collaboration, IT management and customer engagement. Prior to March 2006, the company was  known as 3am Labs, Inc. Today it serves over 300 million Internet-enabled devices, like smartphones and tablets. There are five data centers operating in the company, four in the United States and one in Europe.

The company's CEO Michael Simon and CTO Márton Anka, a Hungarian tech expert collaborated at Uproar, an Internet game site was bought by Vivendi Universal at the height of the dot-com bubble. Anka's work for Uproar allegedly laid the foundation for his RemotelyAnywhere application, which later evolved into LogMeIn after 3am Labs incorporated.

LogMeIn, Inc. completed an IPO in 2009 and trading of LogMeIn, Inc. shares on the NASDAQ Global Market began on July 1, 2009. Two years later

the company began a move into cloud services for the Internet of Things by acquiring the Xively service. In May 2014, it added to this initiative by acquiring Ionia Corp., which specializes in integrating connected objects. Over the last three years two major acquisitions were completed when Bold Software, LLC and Meldium were integrated.

The company had a successful year in 2014, especially the last quarter produced a spectacular growth in revenues and profit. For the last fiscal year, its revenue hit USD 222 million, up 34 percent compared with the previous fiscal year. The company signed a 12-year lease for a 117,000-square-foot expansion on Summer Street in Boston last year. LogMeIn plans to add 450 jobs during the next five years with the help of about USD 2.5 million in tax breaks from the city. New hires are expected to start moving into the new building, across from the company's current headquarters at 320 Summer St., in 2016. About 400 employees currently work at the company's headquarters.