SlideShare une entreprise Scribd logo
1  sur  8
Télécharger pour lire hors ligne
LogMeIn Announces Merger with Citrix’s GoTo Family of Products
to Create a Billion Dollar Industry Leader
JULY 26TH, 2016
1© 2016, LogMeIn, Inc.
Safe Harbor Statement
This communication contains “forward-looking statements” concerning LogMeIn, Inc. (“LMI”), Citrix Systems, Inc. (“Citrix”), GetGo, Inc. (“GetGo”), the proposed transactions and other matters. All statements other than statements of historical fact
contained in this report are forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the United States Securities Exchange Act of 1934, as
amended (the “Exchange Act”). Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of our operations or operating results. Forward-looking statements are often identified by the
words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the
statements are not forward-looking. These forward-looking statements are based on the current expectations, beliefs and assumptions of the management of LMI, Citrix and GetGo concerning future developments, business conditions, and their potential
effects. There can be no assurance that future developments affecting the parties will be those that the parties anticipate.
Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of
the merger agreement, (2) the risk that LMI’s stockholders may not approve the issuance of the Company common stock in connection with the proposed merger, (3) the risk that the necessary regulatory approvals may not be obtained or may be
obtained subject to conditions that are not anticipated, (4) risks that any of the closing conditions to the proposed merger, including Citrix’s distribution of the shares of GetGo, may not be satisfied in a timely manner, (5) risks related to disruption of
management time from ongoing business operations due to the proposed transactions, (6) failure to realize the estimated synergies or growth from the proposed transactions or that such benefits may take longer to realize than expected, (7) risks related
to unanticipated costs of integration of GetGo by LMI, (8) the effect of the announcement of the proposed transactions or the consummation of the proposed transactions on the ability of LMI and Citrix to retain and hire key personnel and maintain
relationships with their key business partners and customers, and on their operating results and businesses generally, (9) the length of time necessary to consummate the proposed transactions, (10) adverse trends in economic conditions generally or in
the industries in which the LMI and Citrix operate, (11) adverse changes to, or interruptions in, relationships with third parties unrelated to the announcement, (12) LMI’s ability to compete effectively and successfully and to add new products and
services, (13) LMI’s ability to successfully manage and integrate acquisitions, (14) the ability to attract new customers and retain existing customers in the manner anticipated, (15) unanticipated changes relating to competitive factors in the parties’
industries, and (16) the business interruptions in connection with the LMI’s technology systems. Discussions of additional risks and uncertainties are contained in LMI’s, Citrix’s and GetGo’s filings with the U.S. Securities and Exchange Commission
(the “SEC”). None of LMI, Citrix or GetGo is under any obligation, and each expressly disclaim any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether
as a result of new information, future events, or otherwise. Persons reading this announcement are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof.
No Offer or Solicitation
This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to
the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of
Section 10 of the Securities Act of 1933, as amended. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do
so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility
of a national securities exchange, of any such jurisdiction.
Important Additional Information Will be Filed with the SEC
In connection with the proposed transaction, LogMeIn and GetGo intend to file registration statements with the SEC. LogMeIn will also file a proxy statement. Citrix stockholders are urged to read the prospectus and/or information statement that will
be included in the registration statements and any other relevant documents when they become available, and LogMeIn stockholders are urged to read the proxy statement and any other relevant documents when they become available, because they will
contain important information about LogMeIn, GetGo, Citrix and the proposed transactions. The proxy statement, prospectus and/or information statement and other documents relating to the proposed transaction (when they become available) can also
be obtained free of charge from the SEC’s website at www.sec.gov. The proxy statement, prospectus and/or information statement and other documents (when they are available) can also be obtained free of charge from Citrix upon written request to
Investor Relations, 851 Cypress Creek Road, Fort Lauderdale, FL 33309, or by calling (954) 229-5758 or upon written request to LogMeIn, Investor Relations, 320 Summer Street, Boston, MA 02210 or by calling (781) 897-0694.
Participants in the Solicitation
This communication is not a solicitation of a proxy from any security holder of LogMeIn. However, LogMeIn, Citrix and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from
shareholders of LogMeIn in connection with the proposed transaction under the rules of the SEC. Information regarding the persons who are, under the rules of the SEC, participants in the solicitation of the stockholders of LogMeIn in connection with
the proposed transactions, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the [proxy statement/prospectus when it is filed with the SEC. Information about the directors and executive
officers of Citrix may be found in its Annual Report on Form 10-K filed with the SEC on February 18, 2016, and its definitive proxy statement relating to its 2016 Annual Meeting of Shareholders filed with the SEC on April 29, 2016. Information
about the directors and executive officers of LogMeIn may be found in its Annual Report on Form 10-K filed with the SEC on February 19, 2016, and its definitive proxy statement relating to its 2016 Annual Meeting of Stockholders filed with the SEC
on April 8, 2016.
2© 2016, LogMeIn, Inc.
Scale to Accelerate Current Vision
Cloud-based apps that simplify the way people connect to each other and the world around them
LogMeIn helps millions
of people simply and
securely connect to
devices, people,
products, and apps from
anywhere in the world.
GoTo is a leader with
an enormous
customer base and the
most recognized
brands in the
industry.
~$330M+
Revenue 2016E
~$680M+
Revenue 2016E
Combined Company
$1B+
Anticipated Annual Revenue
This merger creates one of the world’s
top 10 SaaS companies*
$100M+
Anticipated Cost
Synergies
$250M+
Anticipated
Annual Free
Cash Flow**
35%+
Anticipated
Adj. EBITDA
Margin**
*As defined by annual revenue
**Based on year one anticipated run rate synergies of $65M
3© 2016, LogMeIn, Inc.
Compelling Leadership in Core Segments
Rich product portfolio and millions of customers worldwide create instant leadership and scale
Collaboration
Identity & Access
Management
Service
Combine world’s best user
experience with seamless
communications platform to
transform the way people
collaborate
Enable simple and secure
access for people and
businesses as they evolve
to an app and cloud-
centric world
Empower companies to
reimagine customer
engagement and support
across all digital channels,
devices, and media
$10B+
TAM*
*Based on Frost & Sullivan and IDC Research, and Management Analysis
4© 2016, LogMeIn, Inc.
Illustrative Pro Forma Financial Profile
Including ~$65M Year 1 Cost Synergies
Revenue ~$1B+
Adj. EBITDA ~$375M+
% Margin 35%+
FCF ~$250M+
% Margin 25%+
*Includes $65M of year one run rate cost synergies, and as compared to LOGM 2017E FCF/share;
based on approximately 55 million fully diluted shares outstanding, as of anticipated close date
Illustrative Pro Forma
Per Share vs. LOGM
Standalone*
~80%
Adj. EBITDA Increase
~35%
Free Cash Flow Increase
Strong Financial Rationale
Significantly increased cash flow generation and accretive to free cash flow per share
5© 2016, LogMeIn, Inc.
Substantial Synergy Opportunities
~$65M
Expected Run-rate
Cost Synergies in
Year One
$100M+
Expected Run-rate Cost
Synergies in Year
Two
Sales & Marketing
Spend Optimization
Product & Engineering
Optimization
G&A Efficiencies
6© 2016, LogMeIn, Inc.
Transaction Details
Structure &
Consideration
• Reverse Morris Trust (RMT)
• Citrix equityholders will receive an aggregate of 27.6 M LogMeIn shares on a fully diluted basis*, valued at
approximately $1.8 Billion based on LogMeIn’s closing stock price on July 25th, 2016
• Citrix will contribute $25M of cash to the combined company
• LogMeIn will issue up to $1.50 per share in dividends to its shareholders prior to close
• The deal is expected to be tax-free to Citrix and its shareholders for U.S. federal income tax purposes
Fully Diluted
Ownership
• LogMeIn shareholders – 49.9%
• Citrix shareholders – 50.1%
Leadership
• Bill Wagner – President & CEO, LogMeIn
• Ed Herdiech– Chief Financial Officer, LogMeIn
• Commitment to retain best talent of both organizations
Governance
• 4 Citrix directors – including Bob Calderoni, Jesse Cohn, Peter Sacripanti, David Henshall
• Michael Simon, Current Chairman of the Board of LogMeIn, to remain as Chairman of the Combined
Company; Bill Wagner will retain his board seat as CEO of the Combined Company
• 3 other LogMeIn directors – named at a later date
• Operating Committee of the Board to oversee synergy realization
Timing & Closing
Conditions
• Targeted close during first quarter 2017
• LogMeIn shareholder vote
• Subject to certain regulatory approvals and other customary closing conditions
*Fully diluted shares incudes common stock and RSU’s
7© 2016, LogMeIn, Inc.
Key Benefits for All Stakeholders
Creating one of the world’s top 10 SaaS companies with $1B+ in revenue
Strong combined
financial profile
expected to result in
accretion across all key
financial metrics
Shareholders
Anticipated
acceleration of product
innovation to better
serve the needs of
millions of customers
worldwide
Customers
Offers exciting career
development
opportunities and
participation in
industry
transformation
Employees

Contenu connexe

Tendances

Venture Capital Investment Q3 '06 - MoneyTree
 	Venture Capital Investment Q3 '06 - MoneyTree  	Venture Capital Investment Q3 '06 - MoneyTree
Venture Capital Investment Q3 '06 - MoneyTree
mensa25
 
Spectral Molecular Imaging
Spectral Molecular ImagingSpectral Molecular Imaging
Spectral Molecular Imaging
PARS Media
 
2014 i day final master 03.25.14 website version
2014 i day final master 03.25.14   website version2014 i day final master 03.25.14   website version
2014 i day final master 03.25.14 website version
IronMInc
 
Chapter 7 regulatory technology
Chapter 7   regulatory technologyChapter 7   regulatory technology
Chapter 7 regulatory technology
Quan Risk
 
Q3 2016 Projects & Change Market Update
Q3 2016 Projects & Change Market UpdateQ3 2016 Projects & Change Market Update
Q3 2016 Projects & Change Market Update
Ian Richardson
 
Chapter 9 anti-money laundering
Chapter 9   anti-money launderingChapter 9   anti-money laundering
Chapter 9 anti-money laundering
Quan Risk
 

Tendances (18)

Dreamforce Global Gathering
Dreamforce Global GatheringDreamforce Global Gathering
Dreamforce Global Gathering
 
1 q17 external presentation 2017-05-03_final
1 q17 external presentation 2017-05-03_final1 q17 external presentation 2017-05-03_final
1 q17 external presentation 2017-05-03_final
 
Microsoft to Acquire LinkedIn: Overview for Investors
Microsoft to Acquire LinkedIn: Overview for InvestorsMicrosoft to Acquire LinkedIn: Overview for Investors
Microsoft to Acquire LinkedIn: Overview for Investors
 
Venture Capital Investment Q3 '06 - MoneyTree
 	Venture Capital Investment Q3 '06 - MoneyTree  	Venture Capital Investment Q3 '06 - MoneyTree
Venture Capital Investment Q3 '06 - MoneyTree
 
Q3 2017 irm supplemental final
Q3 2017 irm supplemental finalQ3 2017 irm supplemental final
Q3 2017 irm supplemental final
 
Btcs Corporate Presentation
Btcs Corporate PresentationBtcs Corporate Presentation
Btcs Corporate Presentation
 
Spectral Molecular Imaging
Spectral Molecular ImagingSpectral Molecular Imaging
Spectral Molecular Imaging
 
Mo e investor roadshow presentation final 032116
Mo e investor roadshow presentation final 032116Mo e investor roadshow presentation final 032116
Mo e investor roadshow presentation final 032116
 
2014 i day final master 03.25.14 website version
2014 i day final master 03.25.14   website version2014 i day final master 03.25.14   website version
2014 i day final master 03.25.14 website version
 
Q4 2017 irm supplemental final
Q4 2017 irm supplemental finalQ4 2017 irm supplemental final
Q4 2017 irm supplemental final
 
Bragg Gaming Group Investor Deck May 2021
Bragg Gaming Group Investor Deck May 2021Bragg Gaming Group Investor Deck May 2021
Bragg Gaming Group Investor Deck May 2021
 
Chapter 7 regulatory technology
Chapter 7   regulatory technologyChapter 7   regulatory technology
Chapter 7 regulatory technology
 
Q3 2016 Projects & Change Market Update
Q3 2016 Projects & Change Market UpdateQ3 2016 Projects & Change Market Update
Q3 2016 Projects & Change Market Update
 
Markit Investor Presentation - September 2015
Markit Investor Presentation - September 2015Markit Investor Presentation - September 2015
Markit Investor Presentation - September 2015
 
Online Identity Theft: Changing the Game
Online Identity Theft: Changing the GameOnline Identity Theft: Changing the Game
Online Identity Theft: Changing the Game
 
Everything Blockchain Presentation - October 2021
Everything Blockchain Presentation - October 2021Everything Blockchain Presentation - October 2021
Everything Blockchain Presentation - October 2021
 
Chapter 9 anti-money laundering
Chapter 9   anti-money launderingChapter 9   anti-money laundering
Chapter 9 anti-money laundering
 
Btcs
BtcsBtcs
Btcs
 

Similaire à LogMeIn - GoTo Merger Presentation

Similaire à LogMeIn - GoTo Merger Presentation (20)

Dss 6262013
Dss 6262013Dss 6262013
Dss 6262013
 
Microsemi Acquisition Investor Communication
Microsemi Acquisition Investor CommunicationMicrosemi Acquisition Investor Communication
Microsemi Acquisition Investor Communication
 
Microsoft Buys Linkedin Public Presentation
Microsoft Buys Linkedin Public PresentationMicrosoft Buys Linkedin Public Presentation
Microsoft Buys Linkedin Public Presentation
 
Microsoft to buy LinkedIn for $26.2B in cash, makes big move into enterprise ...
Microsoft to buy LinkedIn for $26.2B in cash, makes big move into enterprise ...Microsoft to buy LinkedIn for $26.2B in cash, makes big move into enterprise ...
Microsoft to buy LinkedIn for $26.2B in cash, makes big move into enterprise ...
 
Microsoft a inversores sobre LinkedIN
Microsoft a inversores sobre LinkedINMicrosoft a inversores sobre LinkedIN
Microsoft a inversores sobre LinkedIN
 
World’s Leading Professional Cloud + World’s Leading Professional Network M...
World’s Leading Professional Cloud +  World’s Leading Professional Network  M...World’s Leading Professional Cloud +  World’s Leading Professional Network  M...
World’s Leading Professional Cloud + World’s Leading Professional Network M...
 
Amneal Pharmaceuticals & Impax to Combine Conference Call
Amneal Pharmaceuticals & Impax to Combine Conference CallAmneal Pharmaceuticals & Impax to Combine Conference Call
Amneal Pharmaceuticals & Impax to Combine Conference Call
 
Investor Presentation
Investor PresentationInvestor Presentation
Investor Presentation
 
eToro Investor Presentation
eToro Investor PresentationeToro Investor Presentation
eToro Investor Presentation
 
Managing B2B Integrations with Anypoint Partner Manager - Mulesoft Meetup
Managing B2B Integrations with Anypoint Partner Manager - Mulesoft MeetupManaging B2B Integrations with Anypoint Partner Manager - Mulesoft Meetup
Managing B2B Integrations with Anypoint Partner Manager - Mulesoft Meetup
 
Investor presentation march_2017
Investor presentation march_2017Investor presentation march_2017
Investor presentation march_2017
 
CSC_HPE
CSC_HPECSC_HPE
CSC_HPE
 
J.p. morgan 2018 healhcare conference
J.p. morgan 2018 healhcare conferenceJ.p. morgan 2018 healhcare conference
J.p. morgan 2018 healhcare conference
 
LMPX Investor Presentation
LMPX Investor PresentationLMPX Investor Presentation
LMPX Investor Presentation
 
LMPX Investor Presentation
LMPX Investor PresentationLMPX Investor Presentation
LMPX Investor Presentation
 
4 q16 external presentation_2017-02-08_final_lvlt
4 q16 external presentation_2017-02-08_final_lvlt4 q16 external presentation_2017-02-08_final_lvlt
4 q16 external presentation_2017-02-08_final_lvlt
 
DGLY Corporate Investor Relations Deck Oct 2023
DGLY Corporate Investor Relations Deck Oct 2023DGLY Corporate Investor Relations Deck Oct 2023
DGLY Corporate Investor Relations Deck Oct 2023
 
DGLY Presentation
DGLY PresentationDGLY Presentation
DGLY Presentation
 
2Q'17 Level 3 Earnings Presentation
2Q'17 Level 3 Earnings Presentation2Q'17 Level 3 Earnings Presentation
2Q'17 Level 3 Earnings Presentation
 
Proposed Sale of Acxiom Marketing Solutions to Interpublic Group
Proposed Sale of Acxiom Marketing Solutions to Interpublic GroupProposed Sale of Acxiom Marketing Solutions to Interpublic Group
Proposed Sale of Acxiom Marketing Solutions to Interpublic Group
 

Plus de irlogmein (14)

Q3 Log mein investor presentation 2017
Q3 Log mein investor presentation 2017Q3 Log mein investor presentation 2017
Q3 Log mein investor presentation 2017
 
LogMeIn investor presentation q2 2017
LogMeIn investor presentation q2 2017LogMeIn investor presentation q2 2017
LogMeIn investor presentation q2 2017
 
Log mein investor presentation 2017 final
Log mein investor presentation 2017 final Log mein investor presentation 2017 final
Log mein investor presentation 2017 final
 
LOGM Q1 2016 Investor Presentation
LOGM Q1 2016 Investor PresentationLOGM Q1 2016 Investor Presentation
LOGM Q1 2016 Investor Presentation
 
Logm investor presentation q4 2015
Logm investor presentation q4 2015Logm investor presentation q4 2015
Logm investor presentation q4 2015
 
Logm investor presentation q3 2015
Logm investor presentation q3 2015Logm investor presentation q3 2015
Logm investor presentation q3 2015
 
Logm investor presentation q3 2015
Logm investor presentation q3 2015Logm investor presentation q3 2015
Logm investor presentation q3 2015
 
Logm investor presentation q2 2015
Logm investor presentation q2 2015Logm investor presentation q2 2015
Logm investor presentation q2 2015
 
Logm investor presentation q2 2015
Logm investor presentation q2 2015Logm investor presentation q2 2015
Logm investor presentation q2 2015
 
Logm investor presentation q2 2015
Logm investor presentation q2 2015Logm investor presentation q2 2015
Logm investor presentation q2 2015
 
Logm investor presentation q1 2015
Logm investor presentation q1 2015Logm investor presentation q1 2015
Logm investor presentation q1 2015
 
Q4 2014 investor deck logm - for conferences
Q4 2014 investor deck   logm - for conferencesQ4 2014 investor deck   logm - for conferences
Q4 2014 investor deck logm - for conferences
 
Q4 2014 investor deck logm - for conferences
Q4 2014 investor deck   logm - for conferencesQ4 2014 investor deck   logm - for conferences
Q4 2014 investor deck logm - for conferences
 
Logmein Investor Deck Q1 2014
Logmein Investor Deck Q1 2014Logmein Investor Deck Q1 2014
Logmein Investor Deck Q1 2014
 

Dernier

Terna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results PresentationTerna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results Presentation
Terna SpA
 
Corporate Presentation Probe Canaccord Conference 2024.pdf
Corporate Presentation Probe Canaccord Conference 2024.pdfCorporate Presentation Probe Canaccord Conference 2024.pdf
Corporate Presentation Probe Canaccord Conference 2024.pdf
Probe Gold
 

Dernier (20)

countries with the highest gold reserves in 2024
countries with the highest gold reserves in 2024countries with the highest gold reserves in 2024
countries with the highest gold reserves in 2024
 
Osisko Gold Royalties Ltd - Corporate Presentation, May 2024
Osisko Gold Royalties Ltd - Corporate Presentation, May 2024Osisko Gold Royalties Ltd - Corporate Presentation, May 2024
Osisko Gold Royalties Ltd - Corporate Presentation, May 2024
 
The Leonardo 1Q 2024 Results Presentation
The Leonardo 1Q 2024 Results PresentationThe Leonardo 1Q 2024 Results Presentation
The Leonardo 1Q 2024 Results Presentation
 
Financial Results for the Fiscal Year Ended March 2024
Financial Results for the Fiscal Year Ended March 2024Financial Results for the Fiscal Year Ended March 2024
Financial Results for the Fiscal Year Ended March 2024
 
Collective Mining | Corporate Presentation - May 2024
Collective Mining | Corporate Presentation - May 2024Collective Mining | Corporate Presentation - May 2024
Collective Mining | Corporate Presentation - May 2024
 
Teekay Corporation Q1-24 Earnings Results
Teekay Corporation Q1-24 Earnings ResultsTeekay Corporation Q1-24 Earnings Results
Teekay Corporation Q1-24 Earnings Results
 
Camil Institutional Presentation_Mai24.pdf
Camil Institutional Presentation_Mai24.pdfCamil Institutional Presentation_Mai24.pdf
Camil Institutional Presentation_Mai24.pdf
 
ITAU EQUITY_STRATEGY_WARM_UP_20240505 DHG.pdf
ITAU EQUITY_STRATEGY_WARM_UP_20240505 DHG.pdfITAU EQUITY_STRATEGY_WARM_UP_20240505 DHG.pdf
ITAU EQUITY_STRATEGY_WARM_UP_20240505 DHG.pdf
 
Nicola Mining Inc. Corporate Presentation May 2024
Nicola Mining Inc. Corporate Presentation May 2024Nicola Mining Inc. Corporate Presentation May 2024
Nicola Mining Inc. Corporate Presentation May 2024
 
Western Copper and Gold - May 2024 Presentation
Western Copper and Gold - May 2024 PresentationWestern Copper and Gold - May 2024 Presentation
Western Copper and Gold - May 2024 Presentation
 
Teekay Tankers Q1-24 Earnings Presentation
Teekay Tankers Q1-24 Earnings PresentationTeekay Tankers Q1-24 Earnings Presentation
Teekay Tankers Q1-24 Earnings Presentation
 
SME IPO Opportunity and Trends of May 2024
SME IPO Opportunity and Trends of May 2024SME IPO Opportunity and Trends of May 2024
SME IPO Opportunity and Trends of May 2024
 
Terna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results PresentationTerna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results Presentation
 
Corporate Presentation Probe Canaccord Conference 2024.pdf
Corporate Presentation Probe Canaccord Conference 2024.pdfCorporate Presentation Probe Canaccord Conference 2024.pdf
Corporate Presentation Probe Canaccord Conference 2024.pdf
 
Diligence Checklist for Early Stage Startups
Diligence Checklist for Early Stage StartupsDiligence Checklist for Early Stage Startups
Diligence Checklist for Early Stage Startups
 
Teck Supplemental Information, May 2, 2024
Teck Supplemental Information, May 2, 2024Teck Supplemental Information, May 2, 2024
Teck Supplemental Information, May 2, 2024
 
Camil Institutional Presentation_Mai24.pdf
Camil Institutional Presentation_Mai24.pdfCamil Institutional Presentation_Mai24.pdf
Camil Institutional Presentation_Mai24.pdf
 
AMG Quarterly Investor Presentation May 2024
AMG Quarterly Investor Presentation May 2024AMG Quarterly Investor Presentation May 2024
AMG Quarterly Investor Presentation May 2024
 
Osisko Gold Royalties Ltd - Q1 2024 Results
Osisko Gold Royalties Ltd - Q1 2024 ResultsOsisko Gold Royalties Ltd - Q1 2024 Results
Osisko Gold Royalties Ltd - Q1 2024 Results
 
Osisko Development - Investor Presentation - May 2024
Osisko Development - Investor Presentation - May 2024Osisko Development - Investor Presentation - May 2024
Osisko Development - Investor Presentation - May 2024
 

LogMeIn - GoTo Merger Presentation

  • 1. LogMeIn Announces Merger with Citrix’s GoTo Family of Products to Create a Billion Dollar Industry Leader JULY 26TH, 2016
  • 2. 1© 2016, LogMeIn, Inc. Safe Harbor Statement This communication contains “forward-looking statements” concerning LogMeIn, Inc. (“LMI”), Citrix Systems, Inc. (“Citrix”), GetGo, Inc. (“GetGo”), the proposed transactions and other matters. All statements other than statements of historical fact contained in this report are forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of our operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the current expectations, beliefs and assumptions of the management of LMI, Citrix and GetGo concerning future developments, business conditions, and their potential effects. There can be no assurance that future developments affecting the parties will be those that the parties anticipate. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, (2) the risk that LMI’s stockholders may not approve the issuance of the Company common stock in connection with the proposed merger, (3) the risk that the necessary regulatory approvals may not be obtained or may be obtained subject to conditions that are not anticipated, (4) risks that any of the closing conditions to the proposed merger, including Citrix’s distribution of the shares of GetGo, may not be satisfied in a timely manner, (5) risks related to disruption of management time from ongoing business operations due to the proposed transactions, (6) failure to realize the estimated synergies or growth from the proposed transactions or that such benefits may take longer to realize than expected, (7) risks related to unanticipated costs of integration of GetGo by LMI, (8) the effect of the announcement of the proposed transactions or the consummation of the proposed transactions on the ability of LMI and Citrix to retain and hire key personnel and maintain relationships with their key business partners and customers, and on their operating results and businesses generally, (9) the length of time necessary to consummate the proposed transactions, (10) adverse trends in economic conditions generally or in the industries in which the LMI and Citrix operate, (11) adverse changes to, or interruptions in, relationships with third parties unrelated to the announcement, (12) LMI’s ability to compete effectively and successfully and to add new products and services, (13) LMI’s ability to successfully manage and integrate acquisitions, (14) the ability to attract new customers and retain existing customers in the manner anticipated, (15) unanticipated changes relating to competitive factors in the parties’ industries, and (16) the business interruptions in connection with the LMI’s technology systems. Discussions of additional risks and uncertainties are contained in LMI’s, Citrix’s and GetGo’s filings with the U.S. Securities and Exchange Commission (the “SEC”). None of LMI, Citrix or GetGo is under any obligation, and each expressly disclaim any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Persons reading this announcement are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. No Offer or Solicitation This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction. Important Additional Information Will be Filed with the SEC In connection with the proposed transaction, LogMeIn and GetGo intend to file registration statements with the SEC. LogMeIn will also file a proxy statement. Citrix stockholders are urged to read the prospectus and/or information statement that will be included in the registration statements and any other relevant documents when they become available, and LogMeIn stockholders are urged to read the proxy statement and any other relevant documents when they become available, because they will contain important information about LogMeIn, GetGo, Citrix and the proposed transactions. The proxy statement, prospectus and/or information statement and other documents relating to the proposed transaction (when they become available) can also be obtained free of charge from the SEC’s website at www.sec.gov. The proxy statement, prospectus and/or information statement and other documents (when they are available) can also be obtained free of charge from Citrix upon written request to Investor Relations, 851 Cypress Creek Road, Fort Lauderdale, FL 33309, or by calling (954) 229-5758 or upon written request to LogMeIn, Investor Relations, 320 Summer Street, Boston, MA 02210 or by calling (781) 897-0694. Participants in the Solicitation This communication is not a solicitation of a proxy from any security holder of LogMeIn. However, LogMeIn, Citrix and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from shareholders of LogMeIn in connection with the proposed transaction under the rules of the SEC. Information regarding the persons who are, under the rules of the SEC, participants in the solicitation of the stockholders of LogMeIn in connection with the proposed transactions, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the [proxy statement/prospectus when it is filed with the SEC. Information about the directors and executive officers of Citrix may be found in its Annual Report on Form 10-K filed with the SEC on February 18, 2016, and its definitive proxy statement relating to its 2016 Annual Meeting of Shareholders filed with the SEC on April 29, 2016. Information about the directors and executive officers of LogMeIn may be found in its Annual Report on Form 10-K filed with the SEC on February 19, 2016, and its definitive proxy statement relating to its 2016 Annual Meeting of Stockholders filed with the SEC on April 8, 2016.
  • 3. 2© 2016, LogMeIn, Inc. Scale to Accelerate Current Vision Cloud-based apps that simplify the way people connect to each other and the world around them LogMeIn helps millions of people simply and securely connect to devices, people, products, and apps from anywhere in the world. GoTo is a leader with an enormous customer base and the most recognized brands in the industry. ~$330M+ Revenue 2016E ~$680M+ Revenue 2016E Combined Company $1B+ Anticipated Annual Revenue This merger creates one of the world’s top 10 SaaS companies* $100M+ Anticipated Cost Synergies $250M+ Anticipated Annual Free Cash Flow** 35%+ Anticipated Adj. EBITDA Margin** *As defined by annual revenue **Based on year one anticipated run rate synergies of $65M
  • 4. 3© 2016, LogMeIn, Inc. Compelling Leadership in Core Segments Rich product portfolio and millions of customers worldwide create instant leadership and scale Collaboration Identity & Access Management Service Combine world’s best user experience with seamless communications platform to transform the way people collaborate Enable simple and secure access for people and businesses as they evolve to an app and cloud- centric world Empower companies to reimagine customer engagement and support across all digital channels, devices, and media $10B+ TAM* *Based on Frost & Sullivan and IDC Research, and Management Analysis
  • 5. 4© 2016, LogMeIn, Inc. Illustrative Pro Forma Financial Profile Including ~$65M Year 1 Cost Synergies Revenue ~$1B+ Adj. EBITDA ~$375M+ % Margin 35%+ FCF ~$250M+ % Margin 25%+ *Includes $65M of year one run rate cost synergies, and as compared to LOGM 2017E FCF/share; based on approximately 55 million fully diluted shares outstanding, as of anticipated close date Illustrative Pro Forma Per Share vs. LOGM Standalone* ~80% Adj. EBITDA Increase ~35% Free Cash Flow Increase Strong Financial Rationale Significantly increased cash flow generation and accretive to free cash flow per share
  • 6. 5© 2016, LogMeIn, Inc. Substantial Synergy Opportunities ~$65M Expected Run-rate Cost Synergies in Year One $100M+ Expected Run-rate Cost Synergies in Year Two Sales & Marketing Spend Optimization Product & Engineering Optimization G&A Efficiencies
  • 7. 6© 2016, LogMeIn, Inc. Transaction Details Structure & Consideration • Reverse Morris Trust (RMT) • Citrix equityholders will receive an aggregate of 27.6 M LogMeIn shares on a fully diluted basis*, valued at approximately $1.8 Billion based on LogMeIn’s closing stock price on July 25th, 2016 • Citrix will contribute $25M of cash to the combined company • LogMeIn will issue up to $1.50 per share in dividends to its shareholders prior to close • The deal is expected to be tax-free to Citrix and its shareholders for U.S. federal income tax purposes Fully Diluted Ownership • LogMeIn shareholders – 49.9% • Citrix shareholders – 50.1% Leadership • Bill Wagner – President & CEO, LogMeIn • Ed Herdiech– Chief Financial Officer, LogMeIn • Commitment to retain best talent of both organizations Governance • 4 Citrix directors – including Bob Calderoni, Jesse Cohn, Peter Sacripanti, David Henshall • Michael Simon, Current Chairman of the Board of LogMeIn, to remain as Chairman of the Combined Company; Bill Wagner will retain his board seat as CEO of the Combined Company • 3 other LogMeIn directors – named at a later date • Operating Committee of the Board to oversee synergy realization Timing & Closing Conditions • Targeted close during first quarter 2017 • LogMeIn shareholder vote • Subject to certain regulatory approvals and other customary closing conditions *Fully diluted shares incudes common stock and RSU’s
  • 8. 7© 2016, LogMeIn, Inc. Key Benefits for All Stakeholders Creating one of the world’s top 10 SaaS companies with $1B+ in revenue Strong combined financial profile expected to result in accretion across all key financial metrics Shareholders Anticipated acceleration of product innovation to better serve the needs of millions of customers worldwide Customers Offers exciting career development opportunities and participation in industry transformation Employees