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TeamViewer has announced its acquisition of 1E, a company specialising in Digital Employee Experience (DEX) management tools, marking its largest acquisition to date.
The acquisition will see TeamViewer integrate its remote connectivity solutions with 1E's autonomous IT platform, aimed at ensuring seamless IT operations and enhancing user experience. "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."
The transaction, valued at USD $720 million, is expected to close by early 2025, pending regulatory approvals. This move enhances TeamViewer's North American presence, presenting fresh opportunities for its enterprise clients and small-to-medium businesses, thereby expanding its total addressable market.
1E's DEX platform provides real-time visibility and automation for enterprise IT environments, crucial for minimizing downtime and improving IT performance and employee satisfaction. Led by CEO Mark Banfield, 1E has experienced double-digit profitable revenue growth over the past three years, with US $77 million in annual recurring revenue.
The acquisition is anticipated to strengthen TeamViewer's strategy by delivering an end-to-end IT operations solution, ranging from proactive auto-remediation to remote expert support. It also enables the company to broaden its AI capabilities, building on its recent launch of the "Session Insights" feature.
Ralf W. Dieter, Chairman of TeamViewer's Supervisory Board, commented on the strategic importance of the acquisition. "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," he said.
As part of the acquisition, several leadership changes will occur, with Mark Banfield joining TeamViewer as the new Chief Commercial Officer and Stephen Tarleton, 1E's Chief Marketing Officer, expected to take on the same role at TeamViewer. "1E's driving mission is to create innovative IT solutions that shape the future of work," Banfield stated. "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."
The acquisition also aims to unlock significant revenue synergies and help TeamViewer capture growth within the expanding DEX market, which can potentially extend into the Operational Technology (OT) space. This is in line with TeamViewer's objective to expand its market across EMEA and APAC regions as well.
