As the year comes to a close, TeamViewer, a global tech and digital workplace solutions company, has announced its largest acquisition to date.
TeamViewer has decided to buy 1E, a London-based digital employee experience company, from global investment firm Carlyle for $720 million.
The cash-free, debt-free deal will close in early 2025, once all regulatory approvals have been obtained.
As a result of the deal, TeamViewer is expecting to see around 3.3x adjusted earnings before interest, taxes, depreciation and amortization (EBITDA). This is linked to 1E’s team achieving an annual recurring revenue of $77 million, and double-digit profit revenue growth over the past three years.
Following closure of the deal, TeamViewer will appoint 1E’s CEO Mark Banfield as Chief Commercial Officer of the combined company.
Talking about the deal, Banfield shared: “1E’s driving mission is to create innovative IT solutions that shape the future of work.
“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.”
A bright future for TeamViewer, 1E and the digital workplace
Talking exclusively about the deal to UNLEASH, TeamViewer’s CEO Oliver Steil shared: “This move is a key part of our strategy to create an end-to-end offering to address any IT issue.
“By combining TeamViewer’s remote access and support solutions with 1E’s digital employee experience technology, we will create an industry-leading one-stop-shop for IT operations, intelligent endpoint management and enhanced user experience in the digital workplace.
The combination of 1E’s proactive digital employee experience technology and our remote expert support capabilities will allow IT teams worldwide to resolve issues before they impact productivity, enhancing efficiency, reducing costs, and improving satisfaction.”
In addition, the deal will strengthen TeamViewer’s footprint in Noth America, as well as EMEA and APAC. Plus, the acquisition will accelerate 1E’s accelerates TeamViewer’s enterprise growth, and expand its customer base.
1E’s customers include HP, Nike, US Department of Veterans Affairs, Nationwide Insurance and Novartis, while TeamViewer supports 4,500 companies, including Airbus, Coca-Cola, Ford, Siemens and Specsavers.
Steil concludes: “1E brings not only advanced technology and a talented team but also strengthens especially our US footprint and Enterprise business. Their culture and mindset are perfectly aligned with ours, making this a seamless and exciting partnership.”
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