TeamViewer Acquires 1E for $720 Million
TeamViewer has acquired 1E, a U.K.-based software solutions provider, for $720 million. This marks TeamViewer's largest acquisition to date and strengthens its presence in the North American market, where 1E boasts clients like HP and Nike. This acquisition will allow TeamViewer to provide customers with a smart solution for preventing and tackling technology issues.
1E specializes in remote detection of software issues on desktop PCs, enabling automatic updates for Windows systems and reducing software running costs. This aligns with TeamViewer's existing remote-work software, which also offers software support. For similar tech updates, check out MacWeb's M4-powered Mac mini Cloud Services.
1E's CEO, Mark Banfield, will join TeamViewer's board as Chief Commercial Officer. The deal, expected to close in 2025, sees 1E bringing $77 million in annual recurring revenue, primarily from enterprise customers. This acquisition builds on TeamViewer's existing remote support capabilities and expands its reach into automated IT solutions. To learn more about remote work solutions, see December 2024 Google System Update Highlights.
This strategic move positions TeamViewer to offer a more comprehensive suite of IT management tools, combining its remote access expertise with 1E's automated software management capabilities. This acquisition could signal a broader trend in the industry towards integrated IT solutions. For insights into other tech mergers, consider Cohesity and Veritas's merger.