Teamviewer has around 800 employees in Europe, the US and Asia and has long been a Unicorn. That's how start-ups are named that reach billions in value. Meanwhile, Teamviewer is worth more than five billion euros. 14 years after its founding in 2005, the Swabian software provider has now completed its IPO.
However, the investors held back. The value of corporate securities persisted at the start of trading on the issue price. The first price of € 26.25 was exactly at the level at which the 84 million papers had been issued.
With a proceeds of 2.21 billion euros, Teamviewer is the largest IPO in Europe so far this year. About 300 employees waited on the floor of the Frankfurt Stock Exchange for the first course.
Used on 340 million devices
Teamviewer was founded to save itself the often long ways to customers by computer remote diagnostics. For the current year, the company expects revenues from Göppingen in Baden-Württemberg of 310 to 320 million euros, which would be a good third more than in 2018.
Teamviewer offers its programs as a subscription model. Currently, the company has more than 360,000 subscribers. The software, which is and will be free in the basic version for residential customers, is currently used on more than 340 million devices.
The proceeds from the IPO flow entirely to the financial investor Permira, who paid 870 million euros for the entire company five years ago. The enterprise value has since increased more than sixfold. Permira will still hold about 60 percent of the software provider.
