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Permira sells into strength at remote connectivity play TeamViewer – Source Reuters Tech News

FILE PHOTO: Oliver Steil, Chief Executive Officer of software company TeamViewer AG, Joerg Rockenhaeuser of Permira and Stefan Gaiser, Chief Financial Officer of TeamViewer attend TeamViewer’s initial public offering (IPO) at the Frankfurt Stock Exchange in Frankfurt, Germany, September 25, 2019. REUTERS/Ralph Orlowski

BERLIN (Reuters) – Private equity investor Permira took advantage of strength in the shares of TeamViewer, in part driven by an increase in working at home due to the coronavirus epidemic, to sell an 11% stake worth 700 million euros ($781 million).

The sale of 22 million shares to institutional investors on Tuesday evening was priced at 32 euros apiece – a discount to the market close but a handy premium to the price of 26.50 euros at which the company floated in Frankfurt last September.

TeamViewer markets itself as a system-agnostic way to connect “anyone, anything, anywhere, anytime”. CEO Oliver Steil said last month that the company was seeing increased…

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Source Reuters Tech News

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