LastPass has announced the completion of its process to separate into an independent company from its parent company, GoTo (formerly LogMeIn), taking up to 3 years since the initial plan was announced in 2021.
The shareholders of LastPass still remain the same as the original shareholders of LogMeIn, holding shares on behalf of the company LMI Parent, L.P. However, the management of LastPass is now independent from GoTo/LogMeIn, allowing for more flexibility, separate financial management, and a direct focus on the cybersecurity business, unlike GoTo/LogMeIn, which is in the remote access system business controlling computers from a distance.
TLDR: LastPass has successfully separated from GoTo(LogMeIn) and is now an independent company focusing on cybersecurity.
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