Permira, the European private equity firm with global reach, announced today that a company owned by the Permira funds has entered into an agreement to acquire TeamViewer(www.teamviewer.com), a leading global provider of secure remote support software and Online Meetings, for an undisclosed sum.
TeamViewer is the world's most downloaded remote support solution for consumers and small and medium-size businesses (SMB) and can connect any device or server around the world within a few seconds. Founded in 2005 and headquartered in Germany, TeamViewer’s remote support product has been installed on more than 500 million devices and is being used by 130 million active users, including over 200,000 SMB commercial customers, across more than 100 countries today. TeamViewer has a strong track record of double digit revenue growth driven by the ongoing shift to mobile working, the increase in IT support outsourcing and the proliferation of devices. In addition, TeamViewer benefits from strong network effects as its large installed customer base and the continued growth in the number of active users drive adoption of its product for commercial use. The Permira funds’ investment will support the company’s growth plans, including further penetration of its core customer base in Western Europe and North America and continuing expansion in emerging markets including Latin America and the Asia Pacific region. This investment draws on Permira’s extensive knowledge of the software industry, following successful recent investments in companies such as NDS, Genesys, Ancestry.com and Renaissance Learning.
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