SRH AlsterResearch AG Update: TeamViewer AG - Acquisition of US-based AR-software pioneer

TeamViewer AG 
Technology

Market Cap EUR 9.4bn

BUY, PT EUR 55.00 (upside 18%)

Link: TeamViewer_update

TeamViewer (TMV), announced that it acquired “Upskill”, a US-based pioneer in augmented reality (AR) software for frontline workers. According to the company, Upskill's digital workflow solutions support workers especially in industrial manufacturing, inspection, and audit use cases through real-time interfaces with smart glasses and handheld mobile devices. This acquisition follows a clear industry logic. By joining forces TMV is expanding its footprint in the fast growing space of vertical AR solutions in its largest market – the US. From an industry logic, we view this acquisition positive and reiterate our BUY recommendation. PT unchanged EUR 55.00

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