Wednesday is Teamviewer's first trading day in Frankfurt, but it's already clear who the biggest winner is - it's private equity firm Permira which acquired Teamviewer in 2014 for as little as €870 million.
#Teamviewer stock news free
Underwriters had said Tuesday that orders below €26.50 per share "risked missing the transaction." The note to investors came after initial pricing guidance of €25.50 to €26.50 apiece, with the free float expected to range from 30% to 42% depending on the size of the total offer. "We want to leave behind the hidden part in our 'hidden champion' description and turn into a more visible player on the global market as a listed company," the firm explains. On its website, Teamviewer offers a strikingly convincing reason for wanting to get listed. The basic version is still free to use for private purposes Image: DW Teamviewer is installed on millions of PCs and mobile devices around the globe. The number of subscribers has risen steadily despite a fully functional freeware version for private users which the firm intends to keep offering after Wednesday's IPO. What sets Teamviewer apart from many other tech candidates wanting to get listed is that the company is already profitable, with its subscription-based policy helping to boost revenues.Īt the moment, the company has around 368,000 subscribers - that's twice as many as in late June of last year. Underwriters in Germany noted that Teamviewer shares are "multiple times oversubscribed," indicating investors' appetite for the biggest tech IPO in the country since Infineon (formerly belonging to Siemens) made its market debut back in the year 2000.Īfter that, the dot-com bubble burst and there have been few sizeable tech IPOs in Europe's powerhouse ever since none of them raised more than €1 billion. This made it the biggest stock market listing across Europe in 2019. Teamviewer priced its initial public offering at 26.25 per share, thus valuing the firm at €5.25 billion ($5.8 billion). The latter celebrated its IPO on the New York Stock Exchange (NYSE) in June of this year, boasting a valuation of over 50 times its revenues. The company is often described as a hidden champion, although it has powerful, already listed competitors such as Zoom Video Communications, Okta and Slack Technologies.
#Teamviewer stock news software
Teamviewer logs over 20 million support sessions daily on its platform, with its software installed on at least 340 million devices worldwide. The firm employs some 800 people in Europe, the US and Asia. It's expanded ever since and is now active in a total of 180 nations around the globe, with remote desktop access and online meeting modules being core ingredients of the software package. Göppingen-based Teamviewer was founded back in 2005 as a local provider of tools for remote computer access.
0 kommentar(er)
