May 8, 2019 / 4:20 PM / 3 months ago

Permira plans IPO of software firm TeamViewer: source

BERLIN (Reuters) - Private equity firm Permira is planning an initial public offering of German software company TeamViewer, which could value the company at up to 5 billion euros ($5.60 billion), a person familiar with the matter told Reuters.

Permira and the banks managing the process - Goldman Sachs and Morgan Stanley - declined to comment.

The plan was initially reported by the Handelsblatt newspaper, which said Permira could also consider a private sale of TeamViewer, which the private equity firm bought for 870 million euros in 2014.

The IPO could take place this year, with 30-40 percent of the firm’s shares included in the flotation.

TeamViewer sells software for online meetings and remote desktop access, with over 20 million support sessions occurring daily on its platform.

Reporting by Arno Schuetze, writing by Emma Thomasson. Editing by Jane Merriman and Edward Taylor

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