From the foundation to the exit to a DAX company in less than three years – Herbst Kinsky advises Xaleon shareholders on the sale of the company to TeamViewer
Herbst Kinsky advises the founders and the investor eQventure on the sale of 100% of the shares in the Upper Austrian start-up Xaleon to TeamViewer. The sale price is a two digit million amount in addition to a significant four-year cash earn-out.
Founded in 2018, Xaleon is a leading technology company for customer engagement software with the goal of optimizing communication and collaboration between companies and their customers. With its engagement platform, Xaleon offers a holistic solution that enables support, sales, consulting and customer care teams to deliver exceptional customer service. Renowned companies such as BMW, Erste Bank, Wüstenrot and Generali already rely on Xaleon to stay in touch with their customers.
TeamViewer, a global technology company based in Göppingen, Germany, with locations around the world, provides software to connect devices of all kinds so they can be accessed and worked on remotely. TeamViewer has more than 500,000 paying customers and helps companies of all sizes and from all industries digitize business-critical processes by seamlessly networking devices. The company employs approximately 1,300 people worldwide. In 2019, TeamViewer recorded billed revenues of approximately 325 million euros. TeamViewer AG is listed on the Frankfurt Stock Exchange as an MDAX company.
“In times of almost exclusively unpleasant news, transactions like this exit are a ray of hope and an important signal to young and fast-growing companies. Innovation and digitalization are the areas that will be driven forward despite COVID-19 and will strengthen Austria as a technology location in the long term, which is why we are particularly happy to be able to contribute our long-standing expertise here,” says Philipp Kinsky, Partner at Herbst Kinsky.
“Thanks to the interdisciplinary, experienced and extremely committed team at Herbst Kinsky, it was possible to achieve a closing here within a very tight schedule despite difficult conditions, including a virtual notarial act, which was also a first for eQventure,” says Herbert Gartner of eQventure.
Herbst Kinsky’s transaction team was led by Philipp Kinsky and Carl Walderdorff (both Corporate) with support from Tanja Lang (Employment Law) and Philipp Herold (Corporate). Zelig Capital Partners acted as lead M&A advisor.