US tech company LogMeIn is to more than double headcount at its Irish operations over the next three to five years with the creation of 200 new jobs.
The announcement comes as the company this week officially opened its new international headquarters in the Reflector building on Grand Canal Dock in Dublin.
LogMeIn is a provider of software as a service (Saas) remote connectivity services for collaboration, IT management and customer engagement. Founded in 2003 in Budapest, Hungary, and now headquartered in Boston, Massachusetts, the company first opened an office in Dublin in 2012. It now employs 180 people locally.
Chief executive Bill Wagner said the move to double staff numbers in the Republic forms part of a plan to create 1,000 new jobs globally over the coming years.
LogMeIn, whose products include LastPass, GoToMeeting and Rescue Assist, said the new roles in Dublin include customer success managers, as well as positions in sales, marketing, legal, HR and IT.
“We are probably one of tech’s best-kept secrets,” Mr Wagner told The Irish Times.
“LogMeIn is one of the largest SaaS companies in the world with $1.2 billion (€1.06 billion) in revenue and nearly 4,000 employees. People may not necessarily know who we are but they certainly know our product brands which are used by about 30 million users around the world across both B2B and B2C.”
The Nasdaq-listed company started out developing remote access solutions but it has since expanded into numerous other areas, primarily through a series of acquisitions.
Big acquisitions
“When we first opened our office in Dublin we had $140 million in revenues and less than 50 employees and were primarily selling remote access solutions. But we knew at that time that we needed to expand to sustain growth and that’s exactly what we’ve done with big acquisitions such as buying Citrix’s GoToMeeting business,” he said.
Mr Wagner said the Dublin operation had played an integral role in helping the company grow, adding that it would continue to play a central role as the group looks to go beyond integrating the various brands it has to focus on organic growth.
“Our gameplan has been to ‘have the first, the best or the only’ product in each of the areas we operate in. I feel we now have all the elements in our portfolio now to really go out and execute our plans and the exciting thing is that the markets we are in are all underpenetrated so we see a total opportunity of about $70 billion or more,” he said.
“The other exciting thing is that most of those markets have less than 25 per cent penetration in terms of all the competitors combined so we see lots of opportunities for LogMeIn in the years ahead,” Mr Wagner added.
