Germany-based digital workspace solutions provider TeamViewer has announced the acquisition of British technology group 1E for US$720 million (£565 million).
The transaction, expected to close in early 2025 pending regulatory approvals, aims to combine TeamViewer’s remote connectivity solutions with 1E’s Digital Employee Experience (DEX) platform.
TeamViewer intends to use the acquisition to expand its North American footprint and create new opportunities in the rapidly growing DEX market.
“With the acquisition of 1E, TeamViewer will enter a new era of intelligent endpoint management by providing customers with a smart solution for preventing and tackling technology issues with minimal friction,” said Oliver Steil, chief executive of TeamViewer.
1E, which generates around $77 million in annual recurring revenue, serves a predominantly enterprise customer base.
Its chief executive Mark Banfield will join TeamViewer as chief commercial officer once the deal is finalised.