TeamViewer Plans to Launch Big German IPO

TeamViewer Plans to Launch Big German IPO

Foto: Depositphotos

The owners of TeamViewer are planning a Frankfurt listing this year that could be the biggest German IPO for a tech company in nearly two decades, according to Bloomberg.

Permira will sell shares in the listing, planned before year-end, via its holding firm, TigerLuxOne, the company said in a statement. TeamViewer could seek a valuation of 4 to 5 billion euros, people familiar with the matter said. Permira could sell 30% to 40% of the company, depending on investor demand. While Germany has a bevy of established tech companies, there have been few sizable newcomers since chipmaker Infineon listed in 2000.

“It is hard to pick the right moment in time but our big growth combined with strong profitability, even if market conditions have been difficult, makes our financial profile attractive to investors,” TeamViewer CEO Oliver Steil said in an interview. “There is a lot going on in the space and it’s still a bit early, but we will see more tech players emerge in a few years.”

Based in Goeppingen in southern Germany and founded in 2005, TeamViewer develops software for collaboration and remote desktop access. Permira bought the company for 870 million euros in 2014. It has since partnered with firms including Alibaba and Salesforce to bolster its cloud offerings.

TeamViewer’s cash billings grew more than 35% in the first half, accelerating from 25% last year, to more than 140 million euros. It says its software has been installed on more than 2 billion devices. For the full year, the company said it expects billings growth of 35% to 39% and adjusted earnings before interest, taxes, depreciation and amortization of as much as 183 million euros.

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