Permira Sells Stake In Remote Work Software Co. For $1.1B

Law360 (October 20, 2020, 4:25 PM EDT) -- An entity controlled by funds advised by private equity firm Permira has offloaded €929.5 million (roughly $1.1 billion) worth of shares — a roughly 11% stake — in remote desktop software company TeamViewer even as businesses have turned to similar software to facilitate the work-from-home transition sparked by the coronavirus pandemic, according to a Tuesday announcement.

London-based Permira said TigerLuxOne sold 22 million shares to unnamed institutional investors for €42.25 each as part of an "accelerated bookbuilding process" to raise money quickly. The private equity firm has sold a total 47 million shares in the business since March and decreased its...

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