NEW YORK — LogMeIn Inc., a provider of on-demand, remote Internet-connection services, said Friday it plans an initial public offering of its common stock, but did not disclose any terms in its filing with the Securities and Exchange Commission.
According to the filing, LogMeIn expects to raise up to $86.3 million from the IPO, but this figure was estimated solely to calculate the registration fee and may change.
The Woburn, Mass.-based company plans to use proceeds from the IPO for working capital and other general corporate purposes, including the development of new services, sales and marketing activities and capital expenditures. LogMeIn said it may also use a portion of the proceeds for acquisitions.
LogMeIn provides on-demand Internet connection services to small and medium-sized businesses, IT service providers and consumers. Clients use its services to access computer resources remotely. The company's proprietary platform connects more than 4.2 million computers to its services each day.
According to the filing, LogMeIn expects to raise up to $86.3 million from the IPO, but this figure was estimated solely to calculate the registration fee and may change.
The Woburn, Mass.-based company plans to use proceeds from the IPO for working capital and other general corporate purposes, including the development of new services, sales and marketing activities and capital expenditures. LogMeIn said it may also use a portion of the proceeds for acquisitions.
LogMeIn provides on-demand Internet connection services to small and medium-sized businesses, IT service providers and consumers. Clients use its services to access computer resources remotely. The company's proprietary platform connects more than 4.2 million computers to its services each day.
© 2008 The Associated Press
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