TeamViewer, a leading global provider of secure remote connectivity solutions and workplace digitalization technology, today announced its acquisition of Xaleon, an Austrian start-up and leading provider of customer engagement software. Xaleon's core product is a co-browsing technology that enables an advanced form of GDPR-compliant screensharing in web sessions without installation and transfer of user data. Around co-browsing, Xaleon has built an entire software suite to enable a secure digital end-to-end customer engagement journey. This includes capabilities like chatbots, live chat, video chat as well as electronic signature for closing contracts within an online customer interaction. Moreover, Xaleon's solution provides interfaces (APIs) to all major customer service and ticketing systems for seamless integration. TeamViewer recently integrated Xaleon's technology in its own enterprise connectivity solution, TeamViewer Tensor, and decided to acquire the company based on substantial traction of the functionality and huge customer interest since the integration.
Oliver Steil, TeamViewer's CEO said: "Xaleon is a great addition to our existing product portfolio. After the acquisition of Ubimax last year we support companies in digitalizing their industrial processes using our combined IoT, Augmented Reality and Frontline solutions. Now we invest in the customer engagement space as we see an increased need for remote customer interactions replacing physical sales and customer services processes as an important part of the value-chain in all industries. We are extremely happy to welcome the highly talented founders of Xaleon and their entire team to the TeamViewer family and are looking forward to strategically develop their customer engagement suite together inside TeamViewer."
Markus Wagner, Xaleon's CEO added: "We are very excited to join TeamViewer and feel already part of the team as we share the same passion and mindset. With TeamViewer's huge global customer base and a joint go-to-market approach we will be able to further leverage our product and enable companies of all sizes to optimize sales and service processes, boost productivity, increase customer satisfaction, reduce churn rates, and enhance the overall quality of customer interaction. We are very proud that blue-chip companies like BMW, Generali and Erste Bank und Sparkasse are already using our solutions for their digital customer interactions."
Xaleon was founded in February 2018 as Chatvisor GmbH and has more than 20 employees in Linz, Austria. TeamViewer plans to grow its presence in this region as it is known as an innovation cluster within Austria. The parties have agreed not to disclose the exact purchase price. In addition to a lower double-digit million fixed component, comprising an upfront cash payment and further annual cash awards for four years, the total consideration is enhanced by a variable earn-out component linked to certain performance targets over a four-year period.
About Xaleon
Xaleon is a leading technology company that provides customer engagement software to streamline communication and collaboration between organizations and their customers. With its engagement suite, Xaleon provides a holistic end-to-end solution that enables support, sales, advisory and relationship management teams to deliver exceptional customer service. To digitally transform the experience of in-person communication, Xaleon combines a variety of complementary features such as co-browsing, chatbots, live chat and video chat. Blue-chip clients like BMW, Erste Bank und Sparkasse and Generali already trust Xaleon to keep them connected to their customers.
About TeamViewer
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 550,000 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 or 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 more than 1,200 people globally. In 2019, TeamViewer achieved billings of around EUR 325m. TeamViewer AG (TMV) is listed at Frankfurt Stock Exchange and belongs to the MDAX. Further information can be found at www.teamviewer.com.
