TeamViewer acquires augmented reality software firm Upskill
Summary
The deal marks the third takeover by CEO Oliver Steil since TeamViewer, headquartered in Goeppingen, was floated in Sept. 2019 by private equity backer Permira. Steil said in an interview that the Upskill takeover would strengthen TeamViewer’s presence in the United States, its largest market by billings. Steil had flagged his interest in expanding into augmented reality and smart devices when TeamViewer reported annual results last month, and forecast that its business would grow by around a third this year. With the acquisition of Upskill, TeamViewer acquires the ability to support workers using smart glasses and handheld devices to inspect factory equipment, as well as a client list that includes Boeing and Merck KGaA. “Our existing customers will benefit from an accelerated product development roadmap, global reach, and additional solutions and features within the TeamViewer portfolio,” said Upskill CEO Brian Ballard.
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