According to the Financial Times, TeamViewer held an initial public offering on the Frankfurt Stock Exchange, where its securities will be quoted under the TMV sign.
The shares were offered at the start at a price of 26.25 apiece, which allows us to estimate the company’s capitalization at 5.25 billion euros. However, their cost has been reported to decrease slightly after a couple of hours. In any case, this is the largest IPO of a European company this year according to Ernst & Young.
The company – TeamViewer is a developer of solutions for remote access to the desktop and video conferencing tools – was founded by Tilo Rossmanith in 2005. Its headquarters are located in the German city of Göppingen, and the staff totals more than 800 people. Last year, the company’s turnover reached 230 million euros, showing growth of 25%.
Players competing with TeamViewer include Zoom Video Communications, Okta, and Slack Technologies. The market for which these developers work is estimated at 10 billion euros and it is planned that by 2023 it will grow to 30 billion euros.