TeamViewer, a technology company specialising in remote connectivity and digital workplace solutions, has announced the acquisition of 1E, a digital employee experience (DEX) management tool company.
TeamViewer signed an agreement with Carlyle Europe Technology Partners (CETP), a part of investment firm Carlyle, to buy London-based 1E for an enterprise value of $720m (£562m) on a cash-free, debt-free basis.
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The deal is expected to close early in 2025, following receipt of necessary regulatory approvals.
This acquisition will position TeamViewer as a significant player in the digital workplace market by integrating its remote access expertise with 1E’s autonomous IT platform.
With this deal, TeamViewer plans to offer a comprehensive solution for IT operations, intelligent endpoint management, and an improved user experience in the digital workplace.
The combined offering aims to enhance customer benefits by proactively preventing IT issues and providing remote support.
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By GlobalData1E employs around 300 people and offers a DEX platform that provides real-time visibility on enterprise IT landscapes.
This platform promptly identifies issues and automates remediation directly on the endpoint, minimising downtime and enhancing overall IT performance.
Founded by Sumir Karayi, and led by CEO Mark Banfield, 1E has achieved double-digit profitable revenue growth over the past three years, with annual recurring revenue of $77m as of September 2024.
The acquisition is expected to drive innovation and AI development, expand TeamViewer’s total addressable market, accelerate enterprise growth, and strengthen its geographic footprint.
TeamViewer plans to leverage 1E’s DEX capabilities to enhance its AI-powered offerings and expand its market reach into the Operational Technology space.
Additionally, the acquisition will accelerate TeamViewer’s enterprise growth by expanding its customer base and enhancing its ability to serve global organisations.
TeamViewer will offer more comprehensive solutions to its nearly 4,500 enterprise customers worldwide, including companies such as Airbus, Coca-Cola, and Ford. 1E’s strong customer base includes the US Department of Veteran Affairs, HP, and NIKE.
The acquisition will also strengthen TeamViewer’s geographic footprint, particularly in North America, and drive revenue synergies by introducing DEX solutions into the EMEA and APAC regions.
As part of the acquisition, TeamViewer will make several leadership additions, with Mark Banfield joining the management board and acting as chief commercial officer of the group, and Stephen Tarleton, who becomes the chief marketing officer.
TeamViewer’s supervisory board has agreed to a three-year contract extension for chief product and technology officer Mei Dent.
These leadership changes aim to align TeamViewer’s and 1E’s commercial and product strategies, driving further growth and innovation in intelligent endpoint management and digital workplace solutions.
TeamViewer chief executive officer Oliver Steil said: “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.”
“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.”
