Remote-working software maker TeamViewer (OTCPK:TMVWF) (OTCPK:TMVWY) is acquiring London-based 1E at an enterprise value of $720M from The Carlyle Group (CG).
TeamViewer’s stock fell about 11% on the Frankfurt Stock Exchange on Tuesday.
The Germany-based company said 1E is a leader in Digital Employee Experience, or DEX, management tools. The 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 company added.
The combined offering would proactively prevent IT issues and provide efficient remote expert support to resolve them, according to the company.
TeamViewer signed an agreement with Carlyle Europe Technology Partners, or CETP, part of The Carlyle Group.
The deal is expected to close in early 2025 after receiving necessary regulatory approvals.
