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    MRK   DE0006599905

MERCK KGAA

(MRK)
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Delayed Quote. Delayed Xetra - 09/24 11:35:29 am
194.85 EUR   -1.74%
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Merck : TeamViewer acquires U.S. augmented reality software firm Upskill

03/02/2021 | 03:20am EDT
FILE PHOTO: First day of trading of TeamViewer AG in Frankfurt

BERLIN (Reuters) - German remote connectivity software company TeamViewer said on Tuesday it had acquired Upskill, a U.S. company that specialises in augmented reality applications for front-line workers.

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. Terms were not disclosed for the transaction.

Steil said in an interview that the Upskill takeover would strengthen TeamViewer's presence in the United States, its largest market by billings. He was still in the market for deals that would widen its range of products.

"We are interested in complementary teams with complementary capabilities," Steil said. TeamViewer recently raised a 300 million euro ($360 million) loan, has cash on hand and strong cash flow that can be put to work, he added.

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.

Upskill, founded in 2010, is privately held and has raised a total of $53 million in venture backing according to Crunchbase. ($1 = 0.8324 euros)

(Reporting by Douglas Busvine; Editing by Caroline Copley and Louise Heavens)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
MERCK KGAA -1.74% 194.85 Delayed Quote.38.83%
TEAMVIEWER AG 4.85% 28.97 Delayed Quote.-33.90%
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Financials
Sales 2021 19 367 M 22 706 M 22 706 M
Net income 2021 2 765 M 3 242 M 3 242 M
Net Debt 2021 8 932 M 10 472 M 10 472 M
P/E ratio 2021 30,4x
Yield 2021 0,79%
Capitalization 84 716 M 99 200 M 99 322 M
EV / Sales 2021 4,84x
EV / Sales 2022 4,44x
Nbr of Employees 58 408
Free-Float 29,7%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 194,85 €
Average target price 198,21 €
Spread / Average Target 1,73%
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Managers and Directors
BelÚn Garijo Lˇpez Chairman-Executive Board & CEO
Marcus Kuhnert Chief Financial Officer
Wolfgang Heinz BŘchele Chairman-Supervisory Board
Maria Rivas Chief Medical Officer & Senior Vice President
Laura Matz Chief Science & Technology Officer
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