Teamviewer with the biggest Tech IPO

Published on: 26-Sep-2019
Category: Trading
Last updated: 06-Oct-2019

Teamviewer with the biggest Tech IPO

On Wednesday, the software company Teamviewer went public. The company provides software for service hotline staff who remotely solve their customers' computer problems. Teamviewer posted sales of 230 million euros in 2018 and expects growth of 39% to 320 million euros this year. In the first half of 2019, Teamviewer made its first profit of 46 million euros.

The British financial investor Permira had acquired the company for 870 million euros in 2014 and has now gone public with it. 84 million shares were issued at a price of 26.25 euros. Overall, Permira has thus implemented 2.2 billion euros. The major investor currently holds 60% of the shares. Shortly after the IPO, the value dropped to 24.80 euros and then finally closed at 25.30 euros. Nevertheless, it is the largest IPO of the year in Europe and since 2000 in Germany, the largest IPO of a tech company.

The CEO of Teamviewer, Stefan Gaiser, is satisfied with the IPO and the development. The company does not need extra money for its growth but hopes for attention for major customers. Stefan Gaiser continues to say that the company has grown and can benefit from an economic downturn. Teamviwer can help other companies save costs and plan business processes more efficiently.

Worldwide, the number of IPOs has decreased, as the consulting firm Ernst & Young (EY) has determined. There was a total of 256 initial public offerings with a total issue volume of $ 40 billion. This is a decrease of 24 IPOs and 22% of the issue proceeds. In Europe, 42% of IPOs dropped from 38 to 22. In China, the number of IPOs rose from 83 to 88, but issuance dropped 32% to $ 19 billion.


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