1E Sells to TeamViewer in $720M Deal
Deal News | Dec 10, 2024 | The Carlyle Group
In a significant move within the technology sector, Carlyle Group has agreed to sell 1E, a leader in Digital Employee Experience software solutions, to TeamViewer SE for an enterprise value of $720 million. 1E, known for its real-time IT solutions and automation for minimizing downtime, has been under Carlyle's ownership, where it experienced strategic enhancements in leadership and market positioning. This transaction, pending regulatory approvals, highlights Carlyle's strategy of value creation and successful exit from investments, following previous deals involving Work & Co and Jagex. TeamViewer is set to integrate 1E's platform into its own solutions, aiming to enhance endpoint management capabilities. Key figures involved include 1E's CEO Mark Banfield, who will join TeamViewer's management board, and 1E's founder Sumir Karayi, along with Carlyle's Fernando Chueca.
Sectors
- Technology
- Private Equity
Geography
- United Kingdom – 1E is headquartered in London, making the UK a primary geographical focus in the transaction.
- Global – Both Carlyle Group and 1E operate internationally, with Carlyle having a global presence and 1E serving clients in 42 countries.
Industry
- Technology – This relates to 1E's involvement in digital employee experience software solutions which are part of the enterprise IT landscape.
- Private Equity – Carlyle Group, a notable private equity firm, is involved in the transaction, highlighting its exit from an investment in 1E.
Financials
- $720 million – Enterprise value at which Carlyle agreed to sell 1E to TeamViewer.
- $447 billion – The amount of assets under management by Carlyle Group as of September 30, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 1E | Target company | Company | 1E is a leading provider of Digital Employee Experience software solutions being acquired by TeamViewer. |
| TeamViewer SE | Bidding company | Company | TeamViewer is acquiring 1E to enhance its digital IT solutions capabilities. |
| The Carlyle Group | Selling company | Company | Carlyle Group is a global investment firm that owned 1E and is now selling it to TeamViewer. |
| Sumir Karayi | Founder of 1E | Person | Founded 1E and worked alongside Carlyle during its ownership period. |
| Mark Banfield | CEO of 1E | Person | CEO of 1E, overseeing operations, and will be joining TeamViewer's management board. |
| Fernando Chueca | Managing Director, CETP at Carlyle | Person | Involved in the strategic maneuvers at 1E during Carlyle's ownership. |