LogMeIn Inc. (LOGM) and Citrix Systems Inc. (CTXS) announced a definitive merger agreement for LogMeIn to combine with Citrix's GoTo business in a Reverse Morris Trust transaction, valued at approximately $1.8 billion.
LogMeIn also reported second quarter non-GAAP EPS of $0.49, up from $0.35 in the previous year. Analysts expected EPS of $0.46. The company expects to report third quarter non-GAAP EPS of $0.52 to $0.53 and between $1.91 and $1.97 for the full year. The consensus estimates are for EPS of $0.51 and $1.88.
LogMeIn broke out of Tuesday's range going into the close and finished up by 4.40 at $69.71 on above average volume. The stock is now up 13.23 on 378K shares after the bell.
For comments and feedback: editorial@rttnews.com