Identity and access management specialist LogMeIn has agreed to buy Marvasol, the company behind online password store LastPass.
The companies expect to close the deal, valuing Marvasol at between US$110 million and $125 million, in a matter of weeks.
LogMeIn is firmly in the enterprise market, while Marvasol has been steadily extending the LastPass secure password storage tool in that direction, with password sharing and group access functions.
LastPass stores an encrypted version of its customers’ passwords in the cloud, allowing them to unlock and access them with a single password from almost any Internet-connected device through either secure browser plugins or a web interface. The company offers apps for Android and iOS, as well as plugins for Internet Explorer, Chrome, Firefox and Safari. Using the service on a single device category is free; multiple categories requires a subscription.