TeamViewer goes public

TeamViewer, the German maker of software to control computers remotely, will go public before the end of the year. The company has announced that. It does not say how much money it wants to raise with the IPO, but it may be five billion euros.

TeamViewer shares will be tradable on the Frankfurt Stock Exchange, TeamViewer said. Co-owner of the company TigerLuxOne will give up his share in the company at the IPO.

The companies do not say what amount they want to raise with the IPO, but Bloomberg has heard that it concerns four to five billion euros. TeamViewer, which sells subscriptions to its service, achieved a turnover of 220 million euros last year, with a gross profit or EBITDA of around 120 million euros. Teamviewer comes from Göppingen in Germany and has been around since 2005. It is not often that a European tech company goes public and raises billions of euros.