German TeamViewer posts mid-term targets after completing 1E acquisition

FILE PHOTO: The headquarters of the German company Team Viewer is seen in Goeppingen, Germany September 14, 2019. Picture taken September 14, 2019. REUTERS/Michael Dalder/File Photo

(Reuters) - German software developer TeamViewer posted on Wednesday mid-term revenue growth targets after it closed its acquisition of IT firm 1E.

TeamViewer forecasts revenue in 2028 to be between 1.03 billion and 1.06 billion euros ($1.07-$1.10 billion) with an adjusted EBITDA margin forecast of 44%-45%.

The company generated revenue of 671 million euros in the fiscal year 2024, while the adjusted EBITDA margin stood at 44%.

In December, Teamviewer announced the acquisition of London-based IT firm 1E for $720 million.

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

($1 = 0.9653 euros)

(Reporting by Amir Orusov; Editing by Christian Schmollinger)