(Reuters) -Teamviewer has signed a deal to acquire the London-based IT firm 1E for an enterprise value of $720 million, the German software company said on Tuesday.
Shares in the German firm were down 5% in pre-market trading following the announcement.
Teamviewer, which signed the deal with Carlyle Europe Technology Partners, part of Carlyle, said it expects the transaction to close early next year.
The company expects a contribution of 10 million euros ($10.56 million) in 2026 and 25 million euros the year after, its chief executive Oliver Steil said in a press call arranged after the announcement.
1E develops products that detect IT issues, with Adidas and AT&T among those listed as customers on its website.