BERLIN (dpa-AFX) - TeamViewer AG (TMVWF.PK), a German remote-working software firm, announced Tuesday that it has signed an agreement to buy London-based 1E at an enterprise value of $720 million on a cash-free, debt-free basis.
The company is buying 1E, a maker of Digital Employee Experience or DEX management tools, from Carlyle Europe Technology Partners or CETP, part of global investment firm Carlyle Group (CG).
The deal is expected to close in early 2025 after obtaining all necessary regulatory approvals.
TeamViewer said the transformational acquisition would position the firm as a strong player in the digital workplace market by integrating its remote access and support expertise with 1E's autonomous IT platform.
With the deal, TeamViewer expects to deliver one-stop-shop for IT operations, intelligent endpoint management and enhanced user experience in the digital workplace.
In 2021, Carlyle acquired a majority stake in 1E, while the company's founder, Sumir Karayi, retained a significant minority stake.
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