LogMeln, a provider of cloud-based remote connectivity services, has made some big move this week. The company announced that it has entered into a definitive agreement to acquire Jive Communications, a leading provider of communication and collaboration solution for business.

According to TechCrunch, the Boston-based company acquired Jive Communications for $342 million to beef up its communication and collaboration portfolio. The Utah-based Jive is a leading player in the fast-growing Unified Communications-as-a- service (UCaaS) market.

Image Credit: Fuelrefuel/Wikimedia Creative Commons

The deal is expected to accelerate LogMeln\’s overall UCaaS strategy and boost its own collaboration products, which include GoToMeeting, GoToWebinar, OpenVoice, and join.me. The deal is expected to close in the second quarter of this year.

About Jive Communications
Founded in 2001 and Orem, Utah, Jive Communications is a privately held, venture-backed company that specializes in cloud-based phone systems and Unified Communications-as-a-service (UCaaS). The company claims over 20,000 customers worldwide and has a growth rate that exceeds most of its peers in the highly lucrative UCaaS market. Jive’s main strength is on VoIP (Voice Over Internet Protocol) for enterprise and hosted VoIP service. Jive’s market competitors include services like of UberConference, WebEx, and Zoom.

About LogMeln
Founded in 2003 and based in Boston, Massachusetts, LogMeln is a leading provider of cloud-based remote connectivity services for enterprise business. The company provides conferencing services such as GoToMeeting and one of the most trusted names in the collaboration market. The company is a market leader in communication & conferencing, identity & access, and customer engagement. In addition to its Boston main office, the company also operates offices in North America, Europe, Asia and Australia.

The deal is one of the company’s largest acquisitions since acquiring the GoTo product line from the US-based software firm Citrix for $1.8 billion. Last year, LogMein acquired the Israeli software firm Nanorep for around $45 million. When the deal completed, Jive Communications CEO John Pope will continue to run the Jive’s business.