Permira’s TeamViewer Plans to Launch Big German IPO This Week

(Bloomberg) -- Permira plans a Frankfurt listing for software company TeamViewer GmbH this year in what could be Germany’s biggest technology initial public offering in almost two decades.The offering will consist only of shares held by TigerLuxOne, a holding company majority owned by funds advised by Permira, the company said in a statement Wednesday. It’s planned to happen by year-end.The buyout firm could seek a valuation of 4 billion euros ($4.4 billion) to 5 billion euros, people familiar with the matter said before the announcement, asking not to be identified because the deliberations are private. TeamViewer didn’t give details on the size of the offering in its announcement and declined to comment on the matter.Permira could sell from 30% to 40% of the company, depending on investor demand, the people said. A representative for the buyout firm declined to comment.TeamViewer Chief Executive Officer Oliver Steil said in an interview this month that the company could be ready for an IPO by the end of the year or early 2020. At a value of 4 billion euros to 5 billion euros, an IPO could be the biggest for a tech firm on the German exchange since Infineon Technologies AG’s listing in 2000, according to data compiled by Bloomberg.Based in Goeppingen in southern Germany, TeamViewer develops software for collaboration and remote desktop access. Permira bought the company for 870 million euros in 2014. It has since partnered with firms including Alibaba Group Holding Ltd. and Salesforce.com Inc. to bolster its cloud offerings.Goldman Sachs International and Morgan Stanley are arranging the IPO, with BofA Merrill Lynch, Barclays and RBC Capital Markets. Lilja & Co. is acting as adviser to Permira and TeamViewer.To contact the reporters on this story: Myriam Balezou in London at [email protected];Aaron Kirchfeld in London at [email protected] contact the editors responsible for this story: Dinesh Nair at [email protected], Amy Thomson, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P. Read More...

(Bloomberg) — Permira plans a Frankfurt listing for software company TeamViewer GmbH this year in what could be Germany’s biggest technology initial public offering in almost two decades.

The offering will consist only of shares held by TigerLuxOne, a holding company majority owned by funds advised by Permira, the company said in a statement Wednesday. It’s planned to happen by year-end.

The buyout firm could seek a valuation of 4 billion euros ($4.4 billion) to 5 billion euros, people familiar with the matter said before the announcement, asking not to be identified because the deliberations are private. TeamViewer didn’t give details on the size of the offering in its announcement and declined to comment on the matter.

Permira could sell from 30% to 40% of the company, depending on investor demand, the people said. A representative for the buyout firm declined to comment.

TeamViewer Chief Executive Officer Oliver Steil said in an interview this month that the company could be ready for an IPO by the end of the year or early 2020. At a value of 4 billion euros to 5 billion euros, an IPO could be the biggest for a tech firm on the German exchange since Infineon Technologies AG’s listing in 2000, according to data compiled by Bloomberg.

Based in Goeppingen in southern Germany, TeamViewer develops software for collaboration and remote desktop access. Permira bought the company for 870 million euros in 2014. It has since partnered with firms including Alibaba Group Holding Ltd. and Salesforce.com Inc. to bolster its cloud offerings.

Goldman Sachs International and Morgan Stanley are arranging the IPO, with BofA Merrill Lynch, Barclays and RBC Capital Markets. Lilja & Co. is acting as adviser to Permira and TeamViewer.

To contact the reporters on this story: Myriam Balezou in London at [email protected];Aaron Kirchfeld in London at [email protected]

To contact the editors responsible for this story: Dinesh Nair at [email protected], Amy Thomson, Michael Hytha

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