TeamViewer, a leading global provider of secure remote connectivity solutions and workplace digitalization technology, announced its acquisition of Xaleon, an Austrian start-up and leading provider of customer engagement software. 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. Around co-browsing, Xaleon has built an entire software suite to enable a secure digital end-to-end customer engagement journey. This includes capabilities like chatbots, live chat, video chat as well as electronic signature for closing contracts within an online customer interaction. Moreover, Xaleon’s solution provides interfaces (APIs) to all major customer service and ticketing systems for seamless integration. TeamViewer recently integrated Xaleon’s technology in its own enterprise connectivity solution, TeamViewer Tensor, and decided to acquire the company based on substantial traction of the functionality and huge customer interest since the integration.
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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.”
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Markus Wagner, Xaleon’s CEO added: “We are very excited to join TeamViewer and feel already part of the team as we share the same passion and mindset. 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.”
Xaleon was founded in February 2018 as Chatvisor GmbH and has more than 20 employees in Linz, Austria. TeamViewer plans to grow its presence in this region as it is known as an innovation cluster within Austria. The parties have agreed not to disclose the exact purchase price. In addition to a lower double-digit million fixed component, comprising an upfront cash payment and further annual cash awards for four years, the total consideration is enhanced by a variable earn-out component linked to certain performance targets over a four-year period.
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