LastPass acquired by LogMeIn

So I read the news today that LastPass has been acquired by LogMeIn. Apparently there is a large amount of outrage about this in the comment streams and a bunch of people are taking this opportunity to switch to a different password manager.

I've never heard of LogMeIn, but it appears to be a company that provides remote management software. I've just migrated to LastPass after Roboform got too buggy and unreliable.

Can anyone clue me in on why so many people are so angry about this?