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Teamviewer: German tech co. to float for over USD4bn?

(CercleFinance.com) - Currently owned by the Permira fund, the German technology group TeamViewer has kicked off its IPO in Frankfurt.

The deal could be completed by the end of 2019, depending on market conditions.

According to Bloomberg, Permira considers a valuation of between four billion and five billion euros.

TeamViewer publishes software for remote access, distance work, online collaboration and remote maintenance. The group estimates its market to be worth 10 billion euros in 2018, benefiting from growth of 24% per year, which should bring it to about 30 billion euros by 2023. The group employs about 800 people.

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