What is TeamViewer?
Owned by Permira, TeamViewer is a leading global provider of secure remote support software with a focus on the small and medium business (‘SMB’) market.
What does TeamViewer do?
The company offers an easy-to-install-and-use solution encompassing remote access administration, multi-user web-conferencing, desktop and file sharing. The software is charged as a licence to corporate/business customers but is free for personal/private use. It is currently used in c.200 countries and is available in 34 languages.
Why Permira invested in the business:
- To leverage its market leadership
- To showcase its attractive market fundamentals, with double-digit growth dynamics driven by mobile workforce and device proliferation.
- To build on its scalable and high margin SaaS-based recurring revenue business model.
Why we like the investment
“Under Permira’s ownership, TeamViewer has successfully transitioned from a perpetual software licence model to a subscription model. The business now has greater levels of recurring revenue and, as a direct result, it achieved a significant valuation re-rating when it listed on the Frankfurt stock exchange in late 2019.” – Alan Gauld, abrdn.