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LogMeIn is making a company independent.
Alex Castro is the illustrator for The Verge.
LogMeIn plans to spin out password management tool LastPass as a separate company. Customers will receive enhancements on an accelerated timeline next year, as a result of the change. A team dedicated to its continued innovation and growth will be able to deliver even more strongly for users.
According to LogMeIn, LastPass is used by more than 30 million users and 85,000 businesses worldwide, and the majority of its business is corporate customers. In its press release, LogMeIn emphasized corporate use of LastPass, which could mean the company is going to focus more on that audience.
The changes come almost a year after LastPass added restrictions to its free tier. LastPass now only allows free users to view and manage passwords on mobile devices. To access your passwords on all your devices, you need to have a paid plan. We have a guide you can follow if you want to move to another password manager. LogMeIn has been criticized for hiking the price of LastPass Premium between the years of 2017 and 2019.
LogMeIn agreed to sell itself to two private equity firms for $4.3 billion.
