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Permira picks up remote support software business TeamViewer

6 May 2014

sales marketing helpdeskEuropean private equity major Permira has agreed a deal to buy secure remote support software business TeamViewer.

The company’s remote support product has been installed on more than 500 million devices and has about 130 million active users across more than 100 countries, the company said.

It said Permira’s investment would be used to support the company’s growth plans, including expansion into the Latin American and Asia Pacific markets.

The investment is the latest in a string of software-based deals for Permira, including NDS, Genesys, Ancestry.com and Renaissance Learning.

Permira partner and co-head Richard Sanders said, “TeamViewer is well-positioned to capitalize on the growing demands of companies to provide secure remote access to their staff and customers alike.

“Already a market leader, thanks to the ease of use, security and great value of its products, the company has lots of potential to increase the breadth of services it provides to its loyal SMB customer base and expand in less penetrated emerging markets.”

The firm’s head of Germany, Jörg Rockenhäuser, added, “This investment fits squarely into the Permira funds’ strategy.

“It involves the close collaboration of our global TMT group and our German team and builds on our longstanding expertise in the software market.

“We look forward to backing TeamViewer’s highly successful management team as the company enters its next phase of growth.”

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