TeamViewer Investor Relations

TeamViewer acquires Ubimax to create the global leader in connectivity solutions and industrial workplace technology

DGAP-News: TeamViewer AG / Key word(s): Takeover/Acquisition
15.07.2020 / 13:55
The issuer is solely responsible for the content of this announcement.

TeamViewer acquires Ubimax to create the global leader in connectivity solutions and industrial workplace technology

  • TeamViewer and Ubimax combine leading connectivity, Augmented Reality and Internet of Things technologies
  • Ubimax's industry-specific solutions allow frontline workforce to wear IT at work resulting in efficiency gains and process improvements
  • Acquisition significantly broadens TeamViewer's offering for enterprise customers
  • Total Addressable Market (TAM) will increase with Ubimax to EUR 40 billion in 2023
  • Transaction valued at EUR 136.5 million (cash and debt free), consideration in cash and shares
  • TeamViewer continues strong billings growth in Q2 with plus 45%

Goeppingen, July 15, 2020 - TeamViewer today announced that it has signed a definitive agreement to acquire Ubimax, the leader in Wearable Computing and Augmented Reality (AR) solutions for the frontline workforce. With this acquisition, TeamViewer will significantly expand its AR and Internet of Things (IoT) offering with industry-specific solutions for enterprise customers. These products provide substantial process improvements and productivity gains for all customers, including many international blue-chip companies. With Ubimax, the TAM's size will increase by EUR 10 billion to EUR 40 billion in 2023. The combination will also accelerate the TAM's annual growth rate (CAGR) from 24% to 27% driven by strong growth of the AR market.

Oliver Steil, CEO of TeamViewer, said: "We are very excited by this strategically important acquisition - the first transaction in TeamViewer's history. Together with Ubimax, we will create the global leader in connectivity solutions and industrial workplace technology. Our joint product portfolio will offer enterprise customers a unique one-stop shop for securely connecting devices, workers and processes in numerous industries. We warmly welcome the Ubimax founders and the whole team at TeamViewer, as we truly share a hands-on mentality and a culture of innovation."
Hendrik Witt, CEO and co-founder of Ubimax, said: "We are very much looking forward to joining TeamViewer's successful journey. Ubimax's leading Augmented Reality platform and our proven experience in industrial workflow integration perfectly complement TeamViewer's product portfolio. Together with my founding partners Jan Junker und Percy Stocker we are very pleased to become members of the TeamViewer family and to jointly drive use case expansion and global growth."

Ubimax serves more than 200 enterprise customers around the globe
Founded 2014 in Bremen, Ubimax provides an AR-based one-stop shop to its customers. Ubimax's leading solutions allow industrial workers to wear IT at work which leads to significant efficiency gains and process improvements. Its portfolio includes the industrial AR software platform Frontline, wearable computing devices and consultancy services. The Frontline product suite is like a toolbox for non-office workers: It helps them in their actual tasks, such as order picking in a warehouse, by visualizing concrete instructions and information on the smart glass and thus improving productivity. At the same time, the solution enables enterprise customers to manage their workflows and communicate with their frontline workers. Ubimax's more than 90 employees across offices in Germany, the US and Mexico sell these products to around 200 enterprise customers across different industries worldwide. In the last twelve months, Ubimax grew billings to EUR 9.1 million as of 30 June 2020. Ubimax is expected to further accelerate its growth in the next year.

Building on success of TeamViewer Pilot
Together with Ubimax, TeamViewer will be able to further expand its offering to enterprise customers and support the digitalization of shop floors with wearable computing devices, tailor-made software and applications. The acquisition enables TeamViewer to accelerate the development of new industry-specific use cases, focusing on Data Analytics and Artificial Intelligence. The new offering will build on the strong traction of TeamViewer Pilot, an AR solution with intuitive usability for mobile phones and tablets. Additionally, Ubimax's broad customer base especially amongst international blue-chip companies, such as Deutsche Post DHL, BMW or Coca-Cola Hellenic Bottling Company, will provide TeamViewer with new business opportunities in its enterprise segment. Ubimax will continue its strategic partnerships, especially with Fielmann, enabling Ubimax to offer individual prescription lenses in smart glasses with Ubimax software.

Founders enter into long-term commitment
TeamViewer will acquire 100% of Ubimax for a total consideration of EUR 136.5 million on a cash and debt free basis, partially paid in cash and partially in shares. The cash component amounts to EUR 85.8 million and will be fully financed from available cash on balance sheet. In addition, the founders of Ubimax will receive 1,070,931 new TeamViewer shares to be issued against contribution in kind from the existing authorized capital. Subscription rights are excluded. The newly issued shares are subject to a three-year lock-up agreement with yearly partial vesting, underlining their long-term commitment to TeamViewer. Subject to ordinary conditions, the closing of the transaction is expected to occur within the third quarter 2020.

Strong billings growth in the second quarter 2020
According to preliminary and unaudited figures, TeamViewer's growth remained strong in the second quarter 2020 - despite a normalization of extra demand for remote access and working from home triggered by measures to contain the COVID-19 pandemic. With Q2 billings of EUR 105.9 million (Q2 2019: EUR 73.1 million) 1H 2020 billings were up 59% year-over-year at EUR 225.7 million (1H 2019: EUR 141.6 million).

Stefan Gaiser, CFO of TeamViewer, said: "Following another strong quarter, this acquisition ticks all the boxes for us. The transaction significantly increases our competitive edge and can comfortably be financed from our cash position. Together with the Ubimax founders and supported by our strong financial performance we will continue to assess acquisition opportunities in the future."

On a regional basis, AMERICAS (North and South America) continued its strong growth in Q2 billings with 63% to EUR 32.8 million (Q2 2019: EUR 20.2 million), followed by EMEA (Europe, Middle East and Africa) with 40% to EUR 56.1 million (Q2 2019: EUR 40.2 million) and APAC (Asia and Pacific Countries) with 34% to EUR 17.0 million (Q2 2019: EUR 12.7 million). For the first half year 2020, billings grew in AMERICAS by 73% to EUR 71.0 million (1H 2019: EUR 41.1 million), followed by EMEA with 56% to EUR 124.9 million (1H 2019: EUR 79.9 million) and APAC with 45% to EUR 29.8 million (1H 2019: EUR 20.6 million).

The publication of TeamViewer's half year report 2020 is scheduled for August 04, 2020.


Conference Call and Webcast Details
Oliver Steil (CEO), Stefan Gaiser (CFO) and Carsten Keller (Head of Investor Relations) will host an analyst and investor conference call to discuss the transaction at 14:30 CEST / 13:30 BST on July, 15 2020. The audio webcast can be followed via
A replay will be available on the corporate website. The accompanying presentation can be downloaded via the following link:

About TeamViewer
TeamViewer is a leading global technology company that provides a connectivity platform to remotely access, control, manage, monitor, and repair devices of any kind - from laptops and mobile phones to industrial machines and robots. Though TeamViewer is free of charge for private use, the company has more than 500,000 subscribers and enables companies of all sizes and from all industries to digitalize their business-critical processes through seamless connectivity. Against the backdrop of global megatrends like device proliferation, automation and new work, TeamViewer proactively shapes digital transformation and continuously innovates in the fields of Augmented Reality, Internet of Things or Artificial Intelligence. Since the company's foundation in 2005, TeamViewer's software has been installed on more than 2.2 billion devices globally. The company is headquartered in Göppingen, Germany, and employs more than 1,000 people globally. In 2019, TeamViewer achieved billings of around EUR 325 million. TeamViewer AG (TMV) is listed at Frankfurt Stock Exchange and belongs to MDAX. Further information can be found at

About Ubimax
Ubimax is a leading provider of fully integrated industrial augmented reality (AR) solutions. The solution platform Ubimax Frontline improves manual work processes across industries along the entire value chain on the basis of the latest wearable computing technologies. The solutions are designed to consciously empower the human worker in an increasingly digitized working environment. The Ubimax Frontline solutions have received numerous awards, including the Auggie Award for "Best Enterprise Solution", the MHI Award for "Best IT Innovation" and McKinsey's German Digital Award, "The Spark". ABI Research calls Ubimax the world's leading company for industrial wearables and AR solutions. In addition to four locations in Germany, Ubimax has subsidiaries in the USA and Mexico. With more than eight years of industry experience and a remarkable track record in wearable computing, augmented reality, mixed reality, and sensor systems, Ubimax is leading the way. Ubimax today serves more than 200 customers especially amongst international blue-chip companies such as Deutsche Post DHL, BMW or Coca-Cola Hellenic Bottling Company.

Contact TeamViewer

Martina Dier
Director, Communications
Phone: +49 (0)7161 60692 410
E-Mail: [email protected]
Investor Relations
Carsten Keller
Head of Investor Relations & Capital Markets Phone: +49 (0)151 1941 7780
E-Mail: [email protected]


Contact Ubimax

Friederike Truthe
PR & Marketing Manager
Phone: +49 (0)421 33 558 307
E-Mail: [email protected]

Alternative performance measures (APMs)
This document contains certain alternative performance measures (collectively, "APMs") including billings that are not required by, or presented in accordance with, IFRS, German GAAP or any other generally accepted accounting principles. TeamViewer presents APMs because they are used by management in monitoring, evaluating and managing its business and management believes these measures provide an enhanced understanding of TeamViewer's underlying results and related trends. The definitions of the APMs may not be comparable to other similarly titled measures of other companies and have limitations as analytical tools and should, therefore, not be considered in isolation or as a substitute for analysis of TeamViewer's operating results as reported under IFRS or German GAAP.

APMs such as billings are not measurements of TeamViewer's performance or liquidity under IFRS or German GAAP and should not be considered as alternatives to results for the period or any other performance measures derived in accordance with IFRS, German GAAP or any other generally accepted accounting principles or as alternatives to cash flow from operating, investing or financing activities.

TeamViewer has defined the APMs in this release as follows:
"Billings" represent the value of goods and services invoiced to customers in a given period and is defined as revenue adjusted for change in deferred revenue p/l effective. When relating to Ubimax, "Billings" represent the value of goods (hardware), services and the annualized contract value of software licenses invoiced to customers in a given period.

15.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at


show this