TeamViewer SE, the German remote-working software provider, announced its largest acquisition to date, agreeing to purchase IT automation firm 1E from Carlyle Group Inc. for $720 million. The deal is expected to finalise in early 2025, pending regulatory approvals.
This acquisition aims to bolster TeamViewer’s footprint in North America, where 1E counts major clients such as HP and Nike among its customer base. The move pairs 1E’s automated IT remediation solutions with TeamViewer’s remote-work software, creating an integrated system to diagnose and resolve IT issues in real time.
Mark Banfield, CEO of 1E, will join TeamViewer’s board and serve as Chief Commercial Officer, while 1E’s Chief Marketing Officer, Stephen Tarleton, will assume the same role at TeamViewer.
TeamViewer CEO Oliver Steil highlighted the strategic value of the acquisition, stating, “With 1E, we are positioned to meet growing customer demands for real-time and automated IT solutions, enhancing our capabilities in both IT and operational technology.”
Despite the promising synergies, TeamViewer shares fell by 7.4% in early Frankfurt trading, reflecting cautious investor sentiment. However, the company views this partnership as a significant step toward expanding its service offerings and strengthening its presence in the competitive North American market.
