TeamViewer Acquisition of 1E Builds Company's DEX Chops

Remote access provider TeamViewer is buying U.K. Digital Employee Experience (DEX) firm 1E.

With the $720 million purchase, TeamViewer said it wants to create an end-to-end offering for tackling IT issues by integrating its remote access and support with 1E ’s autonomous IT platform.

TeamViewer is headquartered in Göppingen, Germany, and employs roughly 1,400 people globally. The deal will strengthen the company’s North American footprint, as the largest market for TeamViewer and 1E. It also positions the group to introduce DEX solutions into the regions EMEA and APAC.

“With the acquisition of 1E, TeamViewer will enter a new era of intelligent endpoint management,” said TeamViewer CEO Oliver Steil. He said the combined company will provide customers “with a smart solution for preventing and tackling technology issues with minimal friction."

TeamViewer's Oliver Steil

“Together with 1E, we are ideally positioned to meet growing customer demands for more real-time, automated and proactive approaches in the IT and the OT space," said Steil. "TeamViewer’s largest acquisition to date marks an important step forward to accelerate enterprise growth, drive innovation and deliver greater value to our customers.”

TeamViewer Eyes OT Expansion with Acquisition

1E CEO Mark Banfield has described the firm as “a cool British company.” Its DEX platform offers real-time visibility on enterprise IT landscapes, identifying issues as they arise and automating remediation directly on the endpoint. This, he said, minimizes downtime, disruptions and costs. It also enhances overall IT performance, employee experience and satisfaction.

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The London-based company has on average delivered double-digit profitable revenue growth over the past three years, with annual recurring revenue of $77 million. More than 99% of sales come from enterprise customers.

TeamViewer said that the acquisition will help it take advantage of AI developments in the digital workplace space. TeamViewer recently launched an AI-powered ‘Session Insights’ feature, which has already laid the groundwork for broadening its offering across automated remote support. Together with 1E, TeamViewer can leverage these unique session insights to gain unparalleled visibility across devices and IT landscapes, enhance remediation capabilities and move into autonomous endpoint management.

The company is eyeing the operational technology (OT) space in which to extend the concept of DEX. This, it said, will expand its combined total addressable market to a multibillion-euro market, which is expected to grow at double digit rates.

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New Exec Positions for 1E Leaders

When the acquisition closes, Banfield will become a member of TeamViewer’s management board, and act as chief commercial officer for the group. 1E chief marketing officer Stephen Tarleton will take the same role at TeamViewer. Additionally, TeamViewer’s supervisory board has agreed to a three-year contract extension for chief product and technology officer, Mei Dent, to continue in the role.

1E's Mark Banfield

Banfield is a channel veteran. He was previously SVP and general manager at Datto, and then chief revenue officer at LogicMonitor.

“1E’s driving mission is to create innovative IT solutions that shape the future of work,” said Banfield. “Together with TeamViewer, we can accelerate that mission by integrating our DEX platform with world-class connectivity solutions.

“TeamViewer is the ideal partner to help us scale our offerings and create an intelligent endpoint management leader," he continued. "I’m excited to join TeamViewer’s management board as we enter this next chapter of our joint growth story.”

TeamViewer has signed an agreement with Carlyle Europe Technology Partners (CETP), part of global investment firm Carlyle, to buy 1E. The acquisition is expected to complete in early 2025 after obtaining regulatory approvals.

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