Remote IT support software provider TeamViewer has acquired Xaleon, an Austrian startup provider of customer engagement software, according to a statement from the company.
This is M&A deal number 58 that ChannelE2E has has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Exact terms of the deal were not disclosed, but the companies revealed that, in addition to a lower-double-digit million euros fixed component, comprised of an upfront cash payment and further annual cash awards for four years, the deal will include a variable earn-out component linked to certain performance targets over a four-year period, according to the statement.
TeamViewer Acquires Customer Engagement Software Provider Xaleon
Xaleon was founded in February 2018 as Chatvisor GmbH, and has more than twenty employees in Linz, Austria. TeamViewer plans to grow its presence in this region as it is known as an innovation cluster within Austria, according to the statement.
Xaleon’s co-browsing technology enables GDPR-compliant screen sharing in web sessions and provides APIs to major customer service and ticketing systems, the company said.
Xaleon's offerings also include capabilities like chatbots, live chat and video chat as well as electronic signatures for closing contracts within an online customer interaction, according to the statement.
TeamViewer Acquires Xaleon: Executive Commentary
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."
"We are very excited to join TeamViewer and feel already part of the team as we share the same passion and mindset," said Xaleon CEO Markus Wagner, now director of R&D and customer engagement at TeamViewer. "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."
