If you are a fan of the LogMeIn company that is based in Boston, you might come across great excitement when you are going to find out that it is making great efforts to make your experience a lot easier and smoother. LogMeIn is pouring in a $125 million investment for LastPass, a very well-known Internet-based password manager.
The $125 million investment implies that LogMeIn is actually buying Morvasol Inc. They will then use LastPass to ensure that their users have easy and safe Internet services, hopefully ensuring them that LogMeIn is exactly what they are looking for when they are thinking about “cloud partnerships”. This will no doubt challenge the attention of other users on the market, who will probably bolster LogMeIn’s numbers.
Cloud partnerships are serious business and you always want to make sure that the right people have access to any of the projects involved. LogMeIn has been planning its moves since last year, when they purchased Meldium, which is known for managing passwords for a group of people working on a specific project. But LastPass deals with individual passwords. No password, no access.
Imagine LasstPass as an Internet data bank, where users can store data that is of great importance to them or to their business. It allows you to record passwords mostly, but other numbers can be put in as well like credit card numbers, PINs, etc. LastPass memorizes these numbers for you, much like Google Chrome or Firefox, putting in the password for you, only that it is more secure.
This feature allows users to think about very strong passwords, with a ton of upper and lower cases, many numbers and many signs. It’s perfect for anything you have money on or for businesses that are developed over a long period of time and that are very valuable to an individual or a larger group.
Its main advantage is that it is not as easy to crack as Google Chrome, but it is also dangerous if it falls into the wrong hands. You might think that you have a vault with every important password in your life, so what would happen if the key to this vault fell into the wrong hands?
What do you think? Is this investment worth it? It sure does bring comfort to all its users, but it can also draw a lot of attention.
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