TeamViewer announced the acquisition of 1E, a provider of Digital Employee Experience (DEX) management tools.
TeamViewer has signed an agreement with Carlyle Europe Technology Partners, part of global investment firm Carlyle, 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 a 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 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:
- Drive innovation and AI development: By integrating 1E’s DEX capabilities, TeamViewer is positioned to enable innovation and AI developments in the digital workplace space. The acquisition builds on TeamViewer’s recent launch of the AI-powered “Session Insights” feature, which has already laid the groundwork for broadening its offering across automated remote support. Together with 1E, TeamViewer can leverage these unique session insights to gain unparalleled visibility across devices and IT landscapes, enhance remediation capabilities and move into autonomous endpoint management.
- Expand total addressable market: This acquisition strengthens TeamViewer’s position to capture growth in the rapidly growing DEX market with the potential to extend this concept to the Operational Technology (OT) space. By tapping into the DEX market, TeamViewer will expand its combined total addressable market to a multi-billion-euro market, which is expected to grow at double digit rates.
- Accelerate Enterprise Growth: The acquisition of 1E accelerates TeamViewer’s enterprise growth, expanding its customer base and enhancing its ability to serve major global organizations.
- Strengthen Geographic Footprint and Realize Strong Revenue Synergies: The acquisition will also drive growth by expanding TeamViewer’s footprint in North America with the US being the largest market for TeamViewer and 1E, and positioning the group to introduce DEX solutions into the regions EMEA and APAC.
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.
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