TeamViewer

The company TeamViewer GmbH was founded in 2005 in Germany and is developing software for remote computer control, file exchange between management and managed machines, video communication and web conferences. The products of the TeamViewer line are installed on more than a billion devices around the world running Windows, OS X, Linux, iOS and Android.

History

2022: Service closure in Russia and Belarus amid conflict in Ukraine

On May 5, 2022, TeamViewer officially announced its departure from Russia and Belarus and the closure of the service for these countries. The decision was made against the backdrop of a special operation of Russia in Ukraine.

2019

Exit to the exchange: share price - €26.25, capitalization - €5.25 billion

September 25, 2019 TeamViewer entered the exchange. This IPO of the German technology company has become the largest since the early 2000s.

TeamViewer shares were listed on the Frankfurt stock exchange. As part of the IPO, the company began selling securities at a price of €26.25, which is located at the upper limit of the previously named range of €23.5-27.5.

The market capitalization of the manufacturer of software for remote computer management on September 25, 2019 amounted to €5.25 billion. According to Ernst & Young, this listing since the beginning of 2019 was the largest in Europe and the fifth largest in the world.

TeamViewer entered the exchange

For the exchange, TeamViewer allocated about 84 million shares or 42% of the total. The remaining stake was retained by the British investment company Permira, which in 2014 acquired TeamViewer for €870 million. Thus, the market valuation of the software developer in 5 years has risen by more than 6 times.

By September 25, 2019, the paid version of the TeamViewer has 368 thousand subscribers. The company employs approximately 800 people, half of whom are in offices in the German city of Göppingen.

The total number of TeamViewer installations by the end of September 2019 reached 2 billion, annually the service is launched for 340 million devices. Every day, more than 20 million sessions are held in TeamViewer, software is used in 180 countries.

The segment of the software market in which the TeamViewer operates is estimated at €10 billion by September 2019. It is expected that by 2023 the market will grow to €30 billion, as companies increase the cost of digital management of their production equipment and increasingly prefer remote work of employees.

Teamviewer CEO Oliver Steil says the company is "very profitable" and has a "decent cash flow."^[1]

TeamViewer goes to IPO

The German developer TeamViewer intends to conduct an initial public offering (IPO) of its securities on the Frankfurt Exchange by the end of 2019. The company announced this in August 2019 on its website. This will be Germany's largest IPO of a technology company in the past 20 years, Bloomberg writes - since the German chip manufacturer Infineon Technologies entered the exchange in 2000^[2]

TeamViewer develops solutions for remote desktop access and collaboration between computers and mobile devices. The developer belongs to the holding company TigerLuxOne, the main owner of which in turn is the investment company Permira.

The IPO will take place at an estimate of TeamViewer from €4 billion to €5 billion, writes Bloomberg, citing informed sources. Permira, which bought the developer five years ago for 870 million euros, intends to sell from 30% to 40% of its shares.

Goldman Sachs and Morgan Stanley are the coordinators and bookrunners of the deal, and Bank of America, Merrill Lynch and Barclays are also among the bookrunners.

According to TeamViewer CEO Oliver Steil, the project has traveled from a local one-time application to a global platform for connecting devices, and now the IPO is the logical next step in business development.

2016: HIPAA, HITECH and SOC2 certificates received

Among other purposes, the Health Insurance Data Retention and Protection Act (HIPAA) helps prevent misuse and abuse of health benefits. Accordingly, one of the key challenges is to ensure confidentiality and protection of private health information (PHI). Compliance with HIPAA confirms that the company has implemented all physical and network security measures, as well as the tools for secure information processing necessary to protect closed medical data.

The Medical Information Technology in Economic Activities and Clinical Practice (HITECH) Act supplements HIPAA. Basically, this law establishes penalties for those organizations that violate HIPAA requirements.

To obtain HIPAA and HITECH certificates, you must complete the following three steps: the candidate organization selects a training provider, attends training seminars, and passes a certification exam.

Service Organization Controls 2 (SOC2) is a reporting system for service providers. The main goal is to offer service providers tools for reporting on non-financial internal controls so that their customers can better understand the situation with respect to the five principles of Trusted Service Principles (TSP). These principles include system security, availability, processing integrity, confidentiality, and privacy. SOC2 complements SOC1 by providing more extensive system definitions and operations. SOC2 is popular among many user organizations. An audit is performed to confirm SOC2 compliance.

The company TeamViewer received HIPAA, HITECH and SOC2 certificates issued by A-LINE. A-LINE is a nationwide U.S. security and compliance service provider that helps companies implement the specialized requirements required for successful security audits and assessments.

2015: Standardization of software development

On October 8, 2015, TeamViewer announced its accession to the ACE (App Configuration for Enterprise) community. ACE is an open, standard approach to managing and protecting applications based on enterprise mobility management (EMM) solutions.

TeamViewer announced its decision to standardize the development and protection of public applications using native functionality in mobile operating systems. ACE is a community that brings together leading global companies to train and deliver advanced methodologies to standardize native capabilities in mobile operating systems.

TeamViewer considers it necessary to simplify the development of mobile applications. In view of current mobility trends, application security should be maintained along with the seamless and stable use of TeamViewer features. By joining ACE, TeamViewer gives enterprise users and IT departments secure access to business data.

"Users around the world trust TeamViewer and use our solutions for remote device management and online conferencing," said Alfredo Patron, vice president of business development at TeamViewer. - Our customers are small and medium businesses, as well as the largest global corporations. We are convinced that by applying ACE standards, we can simplify IT operations related to managing and protecting mobile applications and improve the efficiency of staff working remotely. These standards will be implemented in an update that will be released by the end of 2015. "

2005: Foundation of the company

The company was founded in 2005.