January 19, 2021 | Transactions, M&A

Zelig advises Xaleon on its sale to TeamViewer

Zelig is pleased to announce that it acted as exclusive financial adviser to Xaleon, a leading innovator in customer engagement technology, on its sale to TeamViewer.

Zelig is pleased to announce that it acted as exclusive financial adviser to Xaleon, a leading innovator in customer engagement technology, on its sale to TeamViewer.

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. Xaleon has built an entire software suite around co-browsing to enable a secure digital end-to-end customer engagement journey. This includes capabilities such as chatbots, live chat, video chat as well as electronic signature for closing contracts within an online customer interaction.

Blue-chip companies like Erste Bank, Generali and BMW are already using Xaleon solutions for their digital customer interactions.

TeamViewer recently integrated Xaleon’s technology in its own enterprise connectivity solution, TeamViewer Tensor, and decided to acquire the company due to the platform’s deep and complementary functionality and significant customer demand.

In addition to a lower double-digit million fixed component, comprising an upfront cash payment and further annual cash awards for three years, the total consideration is enhanced by a variable earn-out component linked to certain performance targets over a four-year period.

Herbst Kinsky, the leading Austrian law firm for start-ups and technology companies, acted as Xaleon’s legal adviser.

“We are very excited to join TeamViewer and already feel like part of the team as we share the same passion and mindset. With our product and TeamViewer’s huge global customer base and a joint go-to-market approach we have very strong conviction to become a global leader in the provision of customer engagement technologies. While shorter-than-expected, our journey together with eQventure was immensely rewarding and helped us achieve this outstanding exit.”
Markus Wagner
CEO, Xaleon
“I’m absolutely thrilled by this transaction which underpins our two main objectives: finding and backing exciting early-stage technology start-ups in Austria and helping their talented founders to scale the business quickly. Such an exit is a tremendous achievement for a company that is less than three years old (we have only been an investor since June 2019). The acquisition by TeamViewer validates the progress that has been made together with the immensely ambitious and talented founders and the commercial maturity this young start-up has developed in such a short period of time.”
Herbert Gartner
CEO, eQventure

About Xaleon

Xaleon is a leading technology company that provides customer engagement software to streamline communication and collaboration between organisations and their customers. With its engagement platform, 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, the platform 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. Further information can be found at www.xaleon.com.

About eQventure

Founded in 2014, eQventure is one of Austria’s leading venture capital firms with hubs in Austria, Germany, UK, Israel, USA and China. In addition to growth capital, eQventure provides young Austrian high-tech companies with a strong global network and operational support aimed at accelerating their growth. Behind eQventure are several successful entrepreneurs who invest their own money and expertise in addition to taking a hands-on role with their portfolio companies.

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.

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.

About Herbst Kinsky

Herbst Kinsky is one of Austria’s leading law firms specializing in matters that require extensive experience, a high level of sophistication and individual attention by its partners. With more than 28 lawyers Herbst Kinsky consistently ranks at or near the top of the market in each of its core practice areas.

About Zelig

Zelig is an independent investment bank focused exclusively on FinTech and related technologies. With a presence in London, New York, Toronto, Munich, Tel Aviv, Singapore and Hong Kong, we provide M&A and capital raising advice to entrepreneurs, corporates and investors globally. For further information on Zelig, please visit https://www.zeligassociates.com