TeamViewer, a secure remote connectivity solutions and workplace digitalization technology global lead provider, acquired Xaleon, an Austria-based start-up and leading provider of customer engagement software.
As a co-browsing technology, Xaleon’s core product enables an advanced form of GDPR-compliant screen sharing in web sessions without installing and transferring user data. With Xaleon’s built-in software suite, it is possible to secure a digital end-to-end customer engagement journey around co-browsing.
The suite includes live chat, video chat, chatbots, and electronic signature to close contracts based on online customer interaction.
Xaleon’s solution offers interfaces (APIs) for all significant customer support and ticketing systems for seamless integration. Recently, TeamViewer incorporated Xaleon’s technology into its enterprise networking solution, TeamViewer Tensor, and agreed to acquire the business based on strong feature momentum and tremendous customer interest after the integration.
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.”
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.”
Established in February 2018 as Chatvisor GmbH and later renamed as Xaleon, it now has more than 20 employees in Linz, Austria. Well known for its innovation cluster within Austria, TeamViewer plans to expand extensively in its area.
Both the parties have agreed not to disclose the exact purchase price. Adding to a lower double-digit million fixed portion, consisting of an initial cash payment and other four-year annual cash awards, the overall consideration is strengthened over four years by an earn-out variable feature linked to clear performance goals.