LogMeIn is making LastPass an independent company. | Illustration by Alex Castro / The Verge
LogMeIn plans to spin out password management tool LastPass as a standalone company, it announced Tuesday. With the change, LastPass is promising that customers will receive enhancements on an “accelerated timeline” next year. “With a team solely dedicated to its continued innovation and growth, [LastPass] will be able to deliver even more strongly for users,” a spokesperson said.
LastPass, which LogMeIn purchased for $125 million in 2015, is a popular password management tool; it’s used by “more than 30 million users and 85,000 businesses worldwide,” according to LogMeIn, and “the significant majority” of its business is corporate customers. LogMeIn’s emphasis on LastPass’ corporate use in its press release could suggest the standalone…
