DGAP-News: TeamViewer AG
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TeamViewer intends to convert into European stock corporation (SE)
Goppingen, 14 March 2022: At its meeting on 11 March 2022, the Supervisory Board of TeamViewer AG approved the proposal of the Management Board to prepare the conversion of the company into a European stock corporation (Societas Europaea, or SE) under the name TeamViewer SE. The shareholders of TeamViewer AG will vote on the conversion into the new legal form at the Annual General Meeting on 17 May 2022.
Oliver Steil, CEO TeamViewer AG: "TeamViewer has grown continuously and strongly in recent years and has developed into a global technology company. Our solutions for workplace digitalization along the entire value chain are needed by companies around the globe. Meanwhile, our employees are active in around 20 locations worldwide. By converting to an SE, we are underlining TeamViewer's claim to be a leading software provider from Europe and giving ourselves an internationally recognized legal form that is appropriate for our global presence and size."
TeamViewer has placed a particular focus on Europe to develop its software in accordance with the highest data protection and security standards. In addition to various locations in Germany, the company has been very successfully operating an engineering hub in Ioannina, Greece, for several years, with a team of around 50 employees. Last year, TeamViewer also expanded its presence in further EU member states and has added new subsidiaries in Austria and Portugal.
TeamViewer will maintain its dualistic management system as a Societas Europaea with the Management Board as the executive body and the Supervisory Board as the oversight body. The change of legal form will not affect the composition and responsibilities of the two bodies. In the future, TeamViewer Group employees across the company's European locations will be involved in cross-border corporate matters even more strongly and institutionalized. For this purpose, a procedure for information and consultation in cross-border matters of TeamViewer SE will be agreed upon with representatives of the employees within the framework of the legal requirements. The headquarter of the company will remain in Goppingen, Germany.
Shareholders of TeamViewer AG will automatically become shareholders of TeamViewer SE as a result of the planned conversion. The conversion will not have any effect on the legal status and the trading of the TeamViewer shares on the stock exchange.
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. Although TeamViewer is free of charge for private use, it has more than 625,000 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 and Artificial Intelligence. Since the company's foundation in 2005, TeamViewer's software has been installed on more than 2.5 billion devices around the world. The company is headquartered in Goppingen, Germany, and employs around 1,500 people globally. In 2021, TeamViewer achieved billings of around EUR 548 million. TeamViewer AG (TMV) is listed at Frankfurt Stock Exchange and belongs to the MDAX. Further information can be found at https://www.teamviewer.com/.
Certain statements in this communication may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in TeamViewer's disclosures. You should not rely on these forward-looking statements as predictions of future events and we undertake no obligation to update or revise these statements. Our actual results may differ materially and adversely from any forward-looking statements discussed in these statements due to several factors, including without limitation, risks from macroeconomic developments, external fraud, lack of innovation capabilities, inadequate data security and changes in competition levels. The Company undertakes no obligation, and does not expect to publicly update, or publicly revise, any forward-looking statement, whether as a result of new information, future events or otherwise.
14.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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|EQS News ID:||1301103|
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