Security News > 2021 > December > Popular password manager LastPass to be spun out from LogMeIn

One of the biggest beasts in the password management world, LastPass, is being spun out from parent LogMeIn as a "Standalone cloud security" organisation.

"The success we've seen across the entire LogMeIn portfolio over the last 18 months proves there is a vast growth opportunity ahead for both LastPass and LogMeIn," said Andrew Kowal, a partner at Francisco Partners.

The "Global shift to remote working has also fueled the adoption of new accounts and applications," said LogMeIn.

According to the press statement, LogMeIn has 2 million "Customers" and 30 million users, many of whom will be on its freemium tier.

LogMeIn said today it planned to "Increase investment in the customer experience" for the new standalone business and said customers would see "Planned enhancements on an accelerated timeline in 2022, with the benefit of additional dedicated LastPass resources."

LogMeIn said at the time that users can opt out if they want.

News URL

https://go.theregister.com/feed/www.theregister.com/2021/12/14/lastpass_spinout/