German software company TeamViewer priced its initial public offering o...
FRANKFURT - German software company TeamViewer 1UD.DE priced its initial public offering on Tuesday at 26.25 euros per share, valuing the connectivity specialist at 5.25 billion euros in Europe’s biggest stock market listing this year.
The float marks a rare tech success story on a Frankfurt market heavy with industrial and auto stocks. It is also delivering a bonanza for Permira [PERM.UL], the private equity investor that bought TeamViewer for 870 million euros in 2014. That generated total proceeds of 2.21 billion euros for Permira - more than the 2 billion euros raised when Italian payments group Nexi floated in Milan in April.
TeamViewer offers an “anyone, anything, anytime, anywhere” connectivity tool used in applications including remote IT support and online meetings.
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