LogMeIn Buys Password Manager LastPass for $110 Million

"We believe this transaction instantly gives us a market leading position in password management, while also providing a highly favorable foundation for delivering the next generation of identity and access management solutions to individuals, teams and companies," LogMeIn CEO Michael Simon said in a statement.

One commenter to the announcement wrote, "Oh no! This is NOT good news. logmein has a terrible track record with acquisitions. I feel story for the LastPass team, your management has sold you out. Good luck finding new jobs. [Has] anyone got any good recommendations for alternative password managers? Time to jump ship before this ship sinks."