2024/12/10
Strategic expansion into Digital Workplace Management
Goeppingen/Germany, 10 December 2024 – TeamViewer, a global leader in remote connectivity and digital workplace solutions, today announced the acquisition of 1E, a leader in Digital Employee Experience (DEX) management tools. TeamViewer has signed an agreement with Carlyle Europe Technology Partners (“CETP”), part of global investment firm Carlyle (NASDAQ: CG), to buy London-based 1E at an enterprise value of US$720 million on a cash-free, debt-free basis, which is expected to close in early 2025 after obtaining all necessary regulatory approvals. This transformational transaction positions TeamViewer as a strong player in the digital workplace market by integrating TeamViewer’s remote access and support expertise with 1E ’s autonomous IT platform. The combined offering enhances customer benefits by proactively preventing IT issues and providing efficient remote expert support to resolve them. Together with 1E, TeamViewer will deliver an industry-leading, one-stop-shop for IT operations, intelligent endpoint management and enhanced user experience in the digital workplace.
1E, with its c.300 employees, offers a leading DEX platform that delivers real-time visibility on enterprise IT landscapes, promptly identifying issues as they arise and automating remediation directly on the endpoint. This minimizes downtime, disruptions, and costs as well as enhances overall IT performance, employee experience, and satisfaction. The 1E team, led by Chief Executive Officer Mark Banfield, has on average delivered double-digit profitable revenue growth over the past three years, with annual recurring revenue of US$77 million (as of September 2024) and more than 99% of the sales coming from Enterprise customers.
This acquisition is expected to deliver a number of additional strategic benefits:
As part of the acquisition, TeamViewer will make several additions to the leadership team, effective upon closing of the transaction. Mark Banfield, CEO of 1E, will become a member of TeamViewer’s Management Board, and act as Chief Commercial Officer of the group. Additionally, TeamViewer intends to appoint Stephen Tarleton, Chief Marketing Officer of 1E, as its Chief Marketing Officer and a member of TeamViewer’s Senior Leadership Team. At the same time, TeamViewer’s Supervisory Board has agreed a three-year contract extension for Chief Product and Technology Officer, Mei Dent, to continue building on the excellent progress on TeamViewer’s Product and R&D strategy within the Management Board. All three leaders will support the alignment of TeamViewer’s and 1E’s commercial and product strategy and drive further growth. Together with 1E’s talent, TeamViewer will continue to innovate and enhance its capabilities in key strategic areas such as intelligent endpoint management and frictionless digital workplace.
“With the acquisition of 1E, TeamViewer will enter a new era of intelligent endpoint management by providing customers with a smart solution for preventing and tackling technology issues with minimal friction,” said Oliver Steil, CEO of TeamViewer. “Together with 1E, we are ideally positioned to meet growing customer demands for more real-time, automated, and proactive approaches in the IT and the OT space. TeamViewer’s largest acquisition to date marks an important step forward to accelerate enterprise growth, drive innovation and deliver greater value to our customers. We are excited to work with Mark, Stephen and the fantastic 1E team.”
“1E’s driving mission is to create innovative IT solutions that shape the future of work,” said Mark Banfield, CEO of 1E. “Together with TeamViewer, we can accelerate that mission by integrating our DEX platform with world-class connectivity solutions. As two companies with truly complementary products and technologies, TeamViewer is the ideal partner to help us scale our offerings and create an intelligent endpoint management leader. I’m excited to join TeamViewer’s management board as we enter this next chapter of our joint growth story, and I would like to thank the team at Carlyle who have supported us on our journey so far.”
“This transformational combination of TeamViewer and 1E will enable further significant expansion into the digital workplace market and set up TeamViewer for continued success. With the extension of Mei’s term and the addition of Mark to the Management Board, we can ensure clarity and stability from our strong leadership team to deliver growth and increase stakeholder value for the future,” said Ralf W. Dieter, Chairman of TeamViewer’s Supervisory Board.
Additional Transaction Details
TeamViewer will acquire 1E for an enterprise value of US$720 million[1] , on a cash-free, debt-free basis. Financing will be provided via existing credit lines and new debt instruments. The transaction is expected to close in early 2025 after obtaining all necessary regulatory approvals and subject to customary closing conditions. After closing, pro-forma net leverage ratio is expected to be around 3.3x Adjusted (revenue) EBITDA. TeamViewer is targeting to reduce net leverage ratio to below 2.0x by the end of FY 2026.
[1] Equivalent to €686 million if US$720m converted to EUR at exchange rate of 1.0496
チームビューワーはリモート接続プラットフォームのグローバルリーダーとして、デジタル化を推進するあらゆる規模の企業を支援しています。リモート接続ソリューションである『TeamViewer』は、PC、モバイル端末、工場の機械やロボットなどのデバイスと人、そして場所や時間を問わず世界のユーザーとの接続を可能にし、セキュリティの高いリモートアクセス、サポート、コントロール、コラボレーション機能がいかなるオンライン上のエンドポイントでも利用可能です。個人向けには無償で提供しており、現在の登録者は約63万人。法人は中小企業から大企業まで多様な業種で利用されています。チームビューワーはデバイスの分散化、自動化、ニューノーマルといった環境の変化に柔軟に対応しながらAR、IoT、AIの分野でのDXやイノベーションを主導しています。会社設立以来、『TeamViewer』がダウンロードされているデバイスは現在25億台に達しています。会社設立は2005年。本社はドイツのゲッピンゲン、従業員は全世界で約1,400人以上。2022年度の売上高は約5億6,600万ユーロである。TeamViewer SE(TMV)はフランクフルト証券取引所に上場しており、MADAX株式指数構成銘柄となっています。TeamViewerジャパン株式会社はTeamViewerの日本法人として2018年に設立されました。日本法人のウェブサイトはhttps://www.teamviewer.com/ja/
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.
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