TeamViewer (a German developer of software for remote use of a computer) is going to hold an IPO on the stock exchange in Frankfurt. This will be the largest initial placement in recent years among German high-tech firms.
According to the Financial Times, after the IPO, the company will be estimated at about 4-5 billion euros. Now TeamViewer is owned by Permira. Nearly 30-40% of its share will be sold during the IPO. Permira acquired the developer 5 years ago. Then the deal cost 870 million euros. Jörg Rockenhäuser, Head of Permira’s Frankfurt office, believes that TeamViewer is now becoming not just a local software developer, but a full-fledged platform that occupies a leading position in the market. Thus, an IPO is a logical step for such companies.
TeamViewer was founded in 2005. Now its products are used on 45 million PCs. The software is used to control devices, conduct conferences, etc.
In 2018, the developer switched to subscriptions, abandoning the one-time sales strategy. And this finally paid off. At the moment, the company has more than 350 thousand subscribers, and its revenue has grown 25% over the past year. For the first half of this year, profits have increased almost 40%, amounting to 142 million US dollars.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group