TeamViewer said it planned to list on the Frankfurt

Software group TeamViewer said it planned to list on the Frankfurt stock exchange before the end of 2019 in one of the largest initial public offerings for the German technology sector in recent years. The offering is expected to value the company at €4 billion to €5 billion… Private equity group Permira, which bought TeamViewer five years ago for €870 million, is expected to sell 30-40 per cent of its stake. The planned listing is a rare example of a German technology IPO focused on software rather than e-commerce. If the valuation is confirmed, TeamViewer would be the second-largest listed software company in Germany behind SAP.  Recent tech listings in Europe’s largest economy have been heavily centred on Berlin-based companies backed by Rocket Internet, such as takeaway group Delivery Hero and meal-kit provider HelloFresh. The latest German tech company to gain a stock market listing was Rocket-backed Global Fashion Group in July. Based in the southern German city of Göppingen, TeamViewer develops and sells software that allows users to connect to online meetings and to access each other’s computers remotely, for example for IT support. Its software can also be used by medical professionals for remote consultations with patients. 

Tobias Buck