TeamViewer, the listed German provider of remote connectivity solutions and workplace digitalisation tech, this morning announced its acquisition of Xaleon, an Linz, Austria-based startup formerly known as Chatvisor that builds customer engagement software.
The exact price of the acquisition were not disclosed. The companies did, however, say that it involves "a lower double-digit million fixed component" (a mix of cash upfront, and annual cash awards spread out over the next 4 years), and a variable earn-out scheme linked to certain performance targets, also over four years.
According to Crunchbase, Xaleon raised some seed funding from eQventure last year.
Xaleon’s core product is a co-browsing technology that enables a form of GDPR-compliant screen-sharing without installation and transfer of user data, with a software suite to enable a secure digital end-to-end customer engagement journey wrapped around it.
The latter includes capabilities like chatbots, live chat, video chat as well as electronic signature for closing contracts within an online customer interaction, the startup says.
TeamViewer recently integrated Xaleon’s technology in its own enterprise connectivity solution, TeamViewer Tensor, and says it ultimately decided to acquire the startup based on 'substantial traction of the functionality and huge customer interest since 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."