TeamViewer Advances Digital Workplace Strategy with Acquisition of 1E

TeamViewer Advances Digital Workplace Strategy with Acquisition of 1E

(IN BRIEF) TeamViewer has announced the acquisition of 1E, a leader in Digital Employee Experience (DEX) management tools, for $720 million. This strategic move enhances TeamViewer’s position in the digital workplace market by integrating its remote connectivity solutions with 1E’s advanced IT management platform. The acquisition will expand TeamViewer’s market reach, boost innovation in AI-powered endpoint management, and strengthen its enterprise offerings for major global clients like Airbus and Nike. It also bolsters TeamViewer’s North American presence while positioning the company to deliver comprehensive, proactive IT solutions. The deal, expected to close in early 2025, includes leadership additions from 1E to support future growth and innovation.

(PRESS RELEASE) GÕPPINGEN, 11-Dec-2024 — /EuropaWire/ — TeamViewer, a global leader in remote connectivity and digital workplace solutions, has announced its acquisition of 1E, a prominent provider of Digital Employee Experience (DEX) management tools. This strategic move marks a significant step in TeamViewer’s expansion into the digital workplace market. The acquisition agreement, valued at $720 million, was signed with Carlyle Europe Technology Partners (CETP), part of global investment firm Carlyle. Pending regulatory approvals, the transaction is expected to close in early 2025.

This milestone positions TeamViewer as a comprehensive provider of IT solutions by integrating its advanced remote connectivity capabilities with 1E’s cutting-edge DEX platform. The combination is set to deliver enhanced IT operations, proactive issue prevention, and streamlined remote support, creating a seamless digital workplace experience for customers.

Transforming IT Operations
With approximately 300 employees, 1E offers a market-leading DEX platform that enables real-time visibility into enterprise IT environments. By detecting issues instantly and automating resolutions directly at endpoints, the platform reduces downtime, lowers costs, and improves employee satisfaction. Over the past three years, 1E has achieved double-digit revenue growth, with an annual recurring revenue of $77 million as of September 2024, predominantly from enterprise clients.

Strategic Benefits of the Acquisition

• Innovation and AI Development: TeamViewer will leverage 1E’s DEX capabilities to drive innovation in intelligent endpoint management, building on its existing AI-powered tools, such as Session Insights, to enable autonomous IT operations.
• Expanded Market Reach: This acquisition opens new opportunities in the rapidly growing DEX market, extending TeamViewer’s total addressable market and providing significant potential for growth across enterprise and SMB segments.
• Strengthened Enterprise Focus: TeamViewer will bolster its ability to serve major global clients, enhancing relationships with enterprises like Airbus, Coca-Cola, and Siemens Healthineers while introducing solutions to 1E’s robust customer base, including Nike, Novartis, and the U.S. Department of Veterans Affairs.
• Broadened Geographic Presence: With a strong presence in North America, 1E will help TeamViewer expand its reach in key regions, including Europe, the Middle East, Africa (EMEA), and Asia-Pacific (APAC).

Leadership Enhancements
As part of the acquisition, 1E CEO Mark Banfield will join TeamViewer’s Management Board as Chief Commercial Officer, alongside Stephen Tarleton, 1E’s Chief Marketing Officer, who will assume the same role within TeamViewer. These additions complement the recent contract extension of Mei Dent, TeamViewer’s Chief Product and Technology Officer, ensuring stability and alignment in driving future innovation and growth.

Leadership Insights
Oliver Steil, CEO of TeamViewer, emphasized the transformative nature of this acquisition: “This partnership with 1E positions us at the forefront of intelligent endpoint management, addressing the growing demand for real-time, automated IT solutions. Together, we are poised to redefine the digital workplace experience and deliver unmatched value to our customers.”

Mark Banfield, CEO of 1E, shared his excitement: “Joining forces with TeamViewer allows us to scale our vision of shaping the future of work through innovative IT solutions. By combining our complementary technologies, we are creating a leader in endpoint management and workplace solutions.”

Financial and Transaction Details
The $720 million acquisition will be funded through existing credit lines and new financing instruments. TeamViewer anticipates a pro-forma net leverage ratio of approximately 3.3x Adjusted EBITDA post-transaction, with plans to reduce it to below 2.0x by the end of FY 2026.

This strategic acquisition solidifies TeamViewer’s commitment to innovation, growth, and delivering unparalleled value in the digital workplace market.

About TeamViewer

TeamViewer is a leading global technology company that provides a connectivity platform to remotely access, control, manage, monitor, and repair devices of any kind – from laptops and mobile phones to industrial machines and robots. Although TeamViewer is free of charge for private use, it has more than 640,000 subscribers and enables companies of all sizes and from all industries to digitalize their business-critical processes through seamless connectivity. Against the backdrop of global megatrends like device proliferation, automation and new work, TeamViewer proactively shapes digital transformation and continuously innovates in the fields of Augmented Reality, Internet of Things and Artificial Intelligence. Since the company’s foundation in 2005, TeamViewer’s software has been installed on more than 2.5 billion devices around the world. The company is headquartered in Göppingen, Germany, and employs more than 1,500 people globally. In 2023, TeamViewer achieved a revenue of around EUR 627 million. TeamViewer SE (TMV) is listed at Frankfurt Stock Exchange and belongs to the MDAX. Further information can be found at www.teamviewer.com.

About 1E

Hundreds of organizations in 42 countries trust 1E to help them create a better Digital Employee Experience (DEX). The 1E Platform provides real-time diagnosis, remediation, and automation to proactively fix issues before they ruin the workday. Reduce costs, move faster, and increase employee happiness with 1E. For more information, visit 1E.com.

Important notice
Certain statements in this communication may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in TeamViewer’s disclosures. You should not rely on these forward-looking statements as predictions of future events, and TeamViewer’s actual results may differ materially and adversely from any forward-looking statements discussed in these statements due to several factors, including without limitation, risks from macroeconomic developments, external fraud, lack of innovation capabilities, inadequate data security and changes in competition levels. TeamViewer undertakes no obligation, and does not expect to publicly update, or publicly revise, any forward-looking statement, whether as a result of new information, future events or otherwise.

All stated figures are unaudited.

This document contains alternative performance measures (APM) that are not defined under IFRS. The APMs (non-IFRS) can be reconciled to the key performance indicators included in the IFRS consolidated financial statements and should not be viewed in isolation, but only as supplementary information for assessing the operating performance. TeamViewer believes that these APMs provide an additional, deeper understanding of the Company’s performance. TeamViewer has defined each of the APMs in its most recent regular financial disclosures.

Media Contact:

Tel: +63 2 8849 1142
email: press@teamviewer.com

SOURCE: TeamViewer