TeamViewer Acquires 1E for $720 Million

1E, a United Kingdom-based firm specializing in remote detection of software issues on desktop PCs, has been purchased by TeamViewer, a German company focused on remote working solutions. The acquisition price is reported to be $720 million.

Expanding Market Reach

This represents TeamViewer’s largest acquisition to date. The strategic move is designed to bolster TeamViewer’s presence within the North American market. 1E possesses a substantial client base in the U.S., including prominent companies like HP and Nike.

Ownership History

Previously, 1E was acquired by Carlyle Group in 2021. At that time, Carlyle secured a majority stake in the company.

The founder of 1E, Sumir Karayi, maintained a noteworthy minority ownership position following the 2021 transaction. Financial details of the current deal, anticipated to finalize in 2025, have not been publicly released.

Synergies in Endpoint Management

1E’s technology automates Windows system updates for large organizations. This automation leads to reduced software operational costs, particularly within corporate desktop environments. TeamViewer’s core offerings also center around providing software support and remote assistance.

Leadership Transition

Mark Banfield, currently serving as 1E’s CEO, will transition to TeamViewer’s board of directors. He will also assume the role of chief commercial officer, as stated in an official announcement.

Strategic Vision

Oliver Steil, CEO of TeamViewer, commented on the acquisition. He stated that integrating 1E will usher in a new phase of intelligent endpoint management. The combined offering will provide customers with a proactive and streamlined approach to resolving technology challenges.

Financial Performance

As of September 2024, 1E reported an annual recurring revenue of $77 million. A significant majority – over 99% – of its revenue is generated from enterprise-level clients.