TeamViewer, a remote connectivity and digital workplace solution provider, announced the acquisition of 1E, a Digital Employee Experience (DEX) management tool.
TeamViewer has signed an agreement with Carlyle Europe Technology Partners (CETP), part of global investment firm Carlyle, to buy London-based 1E at an enterprise value of $720 million on a cash-free, debt-free basis, which is expected to close in early 2025 after obtaining all necessary regulatory approvals.
1E, with its c.300 employees, offers a leading DEX platform that delivers real-time visibility on enterprise IT landscapes, promptly identifying issues as they arise and automating remediation directly on the endpoint.
As part of the acquisition, TeamViewer will make several additions to the leadership team, effective upon the closing of the transaction. Mark Banfield, CEO of 1E, will become a member of TeamViewer’s Management Board, and act as Chief Commercial Officer of the group.
Additionally, TeamViewer intends to appoint Stephen Tarleton, Chief Marketing Officer of 1E, as its Chief Marketing Officer and a member of TeamViewer’s Senior Leadership Team.
At the same time, TeamViewer’s Supervisory Board has agreed a three-year contract extension for Chief Product and Technology Officer, Mei Dent, to continue building on the excellent progress on TeamViewer’s Product and R&D strategy within the Management Board.
“With the acquisition of 1E, TeamViewer will enter a new era of intelligent endpoint management by providing customers with a smart solution for preventing and tackling technology issues with minimal friction. Together with 1E, we are ideally positioned to meet growing customer demands for more real-time, automated, and proactive approaches in the IT and the OT space. TeamViewer’s largest acquisition to date marks an important step forward to accelerate enterprise growth, drive innovation and deliver greater value to our customers. We are excited to work with Mark, Stephen and the fantastic 1E team,” said Oliver Steil, CEO of TeamViewer.
“1E’s driving mission is to create innovative IT solutions that shape the future of work. Together with TeamViewer, we can accelerate that mission by integrating our DEX platform with world-class connectivity solutions. As two companies with truly complementary products and technologies, TeamViewer is the ideal partner to help us scale our offerings and create an intelligent endpoint management leader. I’m excited to join TeamViewer’s management board as we enter this next chapter of our joint growth story, and I would like to thank the team at Carlyle who have supported us on our journey so far,” said Mark Banfield, CEO of 1E.
“This transformational combination of TeamViewer and 1E will enable further significant expansion into the digital workplace market and set up TeamViewer for continued success. With the extension of Mei’s term and the addition of Mark to the Management Board, we can ensure clarity and stability from our strong leadership team to deliver growth and increase stakeholder value for the future,” said Ralf W. Dieter, Chairman of TeamViewer’s Supervisory Board.
