Teamviewer acquires London-based 1E in $720-million deal

FILE PHOTO: The logo of software company TeamViewer AG is pictured during TeamViewer's initial public offering (IPO) at the Frankfurt Stock Exchange in Frankfurt, Germany, September 25, 2019. REUTERS/Ralph Orlowski/File Photo

(Reuters) -Teamviewer has signed a deal to acquire the London-based IT firm 1E for an enterprise value of $720 million, the German software company said on Tuesday.

Shares in the German firm were down 5% in pre-market trading following the announcement.

Teamviewer, which signed the deal with Carlyle Europe Technology Partners, part of Carlyle, said it expects the transaction to close early next year.

The company expects a contribution of 10 million euros ($10.56 million) in 2026 and 25 million euros the year after, its chief executive Oliver Steil said in a press call arranged after the announcement.

1E develops products that detect IT issues, with Adidas and AT&T among those listed as customers on its website.

($1 = 0.9467 euros)

(Reporting by Paolo Laudani and Hakan Ersen, editing by Rachel More)

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