TeamViewer is paying a whopping $720 million (€682 million) for 1E, a platform specializing in identifying and solving technical problems.
This is TeamViewer’s largest acquisition ever. The German software company is willing to dig deep to expand its remote connectivity approach further. With remote connectivity, TeamViewer helps companies manage IT issues remotely, which is especially useful for organizations with a hybrid workforce. The software can be used for remote troubleshooting and maintenance and is suitable for a variety of endpoints.
With Digital Employee Experience (DEX), 1E will complement TeamViewer’s remote support capabilities. 1E’s DEX platform automates recovery processes and proactively identifies problems. Remote support complements this by providing support for actual problem resolution. “Together, the 1E DEX platform and TeamViewer’s remote connectivity support creates a holistic solution for a frictionless, high performance digital workplace,” TeamViewer said.
According to 1E, the acquisition will not affect its existing products and support. The company will share more details on its impact in the coming weeks. CEO Mark Banfield of 1E will join TeamViewer’s board and assume the role of chief commercial officer.
The acquisition is expected to be completed in early 2025. However, regulators must still give their approval before that happens.
Tip: TeamViewer CEO: “Remote access should be deployable in any industry”