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Citrix And LogMeIn Merger Attracts Analysts' Attention

Citrix And LogMeIn Merger Attracts Analysts' Attention - Citrix Systems, Inc. NASDAQ:CTXS, LogMein, Inc. NASDAQ:LOGM

Shares of LogMeIn Inc LOGM, a provider of cloud-based service offerings that allow businesses and individuals to connect to their workplace, surged higher by nearly 20 percent on Wednesday after the company announced a merger agreement with Citrix Systems, Inc. CTXS

Citrix Systems is a developer and seller of products and services that enable the delivery of applications and data over cloud technologies.

As part of the merger agreement, LogMeIn shareholders will own 49.9 percent of the combined company and will issue a $1.50 per share dividend to shareholders when the deal closes.

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