Founded in 2005 and headquartered near Stuttgart, Germany, TeamViewer is a leading global provider of secure remote support software with a focus on the small and medium business (‘SMB’) market. The company offers an easy-to-install-and-use solution encompassing remote access administration, multi-user web-conferencing, desktop and file sharing. The software is charged as a licence to corporate/business customers but is free for personal/private use. It is currently used in c.200 countries and is available in 34 languages.
Teamviewer
Why we backed them
- To leverage its market leadership. It is a global leader in secure remote support software with a unique viral distribution approach with more than 1.9bn activated devices and about 600k commercial customers
- To showcase its attractive market fundamentals: Remote support market is subject to attractive double-digit growth dynamics driven by mobile workforce, device proliferation, Bring Your Own Device and IT Outsourcing
- To build on its scalable and high margin business model: SaaS-like business model with high share of recurring revenues
The investment strategy
- To consolidate and grow its position as the No.1 global player in SMB segment through increased free-to-pay conversion and upselling initiatives
- Invest to expand product portfolio and promote cross-sell opportunities
- To expand further into fast growing emerging geographies
The metrics
2014
Acquisition year
€870m
Transaction value
1.9bn
Devices activated
600k
Commercial customers
