Remote connectivity company TeamViewer is set to acquire digital workplace management firm 1E for $720 million (£583m).
According to TeamViewer, 1E offers a leading digital employee experience (DEX) platform. The strategy will fuel seamless IT operations and user experience, the vendor said.
“[This] accelerates TeamViewer’s strategy to create an end-to-end offering for tackling IT issues,” the vendor explained.
Adding 1E will cover off capabilities from auto-remediation to remote expert support. TeamViewer also expected solution development with AI.
Oliver Steil, chief executive of TeamViewer, said TeamViewer would enter a new era of intelligent endpoint management. This would be achieved by preventing and tackling technology issues with minimal friction.
Financing will be via existing credit lines and new debt instruments, an announcement said.
“With 1E, we are ideally positioned to meet growing customer demands for more real-time, automated, and proactive approaches in the IT and the operational tech (OT) space,” Steil added.
The acquisition would be TeamViewer’s largest to date, he said.
Mark Banfield, chief executive of 1E, said the move could help “shape the future of work”.
“With TeamViewer, we can accelerate that mission by integrating our DEX platform with world-class connectivity solutions,” Banfield said.
Developing digital workplace experience
The companies had “truly complementary products and technologies”, making them ideal partners, he added.
Additionally, 1E hoped to be able to scale its offerings and create an “intelligent endpoint management leader”.
The move would also strengthen TeamViewer’s footprint in North America. TeamViewer is based in Germany, 1E in the USA.
The 1E DEX platform that delivers real-time visibility of enterprise IT landscapes. The idea is to identify and remediate issues faster and directly on the endpoint, the companies said.
1E reported annual recurring revenue of $77m as of September 2024 and has around 300 employees.
The acquisition builds on TeamViewer’s launch of an AI-powered session insights feature. That launch “laid the groundwork” for broadening its offering across automated remote support, TeamViewer said.
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