LogMeIn, Inc. announced the intent to establish LastPass as a standalone company. The category leader in zero-knowledge password management, LastPass is used by more than 30 million users and 85,000 businesses worldwide and is set for strong and sustained growth as consumers and businesses continue prioritizing password security. By establishing LastPass as a standalone business, the company plans to increase investment in the customer experience, go- to-market functions and engineering to accelerate its organic growth in password management, Single Sign-On (SSO) and Multi-factor Authentication (MFA). Customers will experience planned enhancements on an accelerated timeline in 2022, with the benefit of additional dedicated LastPass resources. The significant majority of LastPass’ business is represented by corporate customers, illustrating the business imperative that password management has become to organizations of all sizes. The importance of securing identity verification among consumers and businesses is rising given the rapid proliferation of passwords and the prevalence of unauthorized access by hackers. Using a zero-knowledge security model, LastPass empowers end users to generate, secure, and share credentials seamlessly, and to monitor personal information on the dark web, while providing valuable insight and effortless control to IT teams with the most comprehensive, yet actionable admin console and policy configurations. By reducing credentials through simplified access with SSO and passwordless MFA to cloud and legacy applications, VPNs, and workstations, LastPass further improves security for businesses.