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It is located in Great Britain 1ETeamViewer, a Germany-based telecommuting company that remotely diagnoses software problems on desktop computers, has been acquired by TeamViewer for $720 million on a cash-free, debt-free basis.
This is TeamViewer’s largest acquisition and will allow it to expand into the North American market. 1E, which was sold to the Carlyle Group in 2021, has several major US customers, including HP and Nike.
Carlyle acquired a majority stake in 1E in 2021, with company founder Sumir Karayi retaining a significant minority stake, according to a statement released during the 202221 sale. Terms of the deal – which is expected to be implemented after regulatory approval – were not disclosed.
Shares of TeamViewer are down 11.89% on the Frankfurt stock exchange today and 18.46% over the past year. The company is currently valued at 2 billion euros ($2.1 billion).
By enabling large organizations to automatically update their Windows systems, 1E’s products reduce the cost of deploying software, typically between desktop computers on corporate networks. TeamViewer’s remote control software provides software support in the same way.
1E CEO Mark Banfield will join TeamViewer’s board and become chief commercial officer. statement.
TeamViewer CEO Oliver Steil said in a statement: “With the acquisition of 1E, TeamViewer will usher in a new era of intelligent endpoint management, providing customers with an intelligent solution to prevent and resolve technology issues with minimal friction.”
1E said it has annual revenue of $77 million (as of September 2024), with more than 99% of sales coming from enterprise customers.
Karayi moved from India to England at the age of 14 difficult schoolhe decided to educate himself at home, eventually gaining a place at university. According to his LinkedIn profile, he is now involved in philanthropy and is an AI Committee Leadership for the Boardwave membership organization.
