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    TMV   DE000A2YN900

TEAMVIEWER AG

(TMV)
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Delayed Xetra  -  11:38 2022-11-25 am EST
12.41 EUR   +2.86%
11/23TEAMVIEWER : Gets a Neutral rating from Goldman Sachs
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11/22Dd : TeamViewer AG: Michael Wilkens, Discretionary order for the acquisition of 26,300 shares.
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11/21TEAMVIEWER : Upgraded to Buy by Barclays
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TeamViewer : and Hyundai Motor Sign Strategic Partnership to Accelerate Digital Innovation in Automotive Smart Factory

09/30/2022 | 04:14am EST
  • TeamViewer to provide Hyundai Motor with industry-leading enterprise augmented reality (AR) platform and artificial intelligence (AI) capabilities

  • Partnership will help Hyundai Motor develop an intelligent manufacturing platform and enhance productivity, accuracy and worker safety in a smart factory

Goeppingen / Singapore / Seoul, September 30, 2022 - TeamViewer, a leading global provider of remote connectivity and workplace digitalization solutions, today announced a partnership with global mobility solutions provider Hyundai Motor Company to digitalize business operations and manufacturing processes for Hyundai Motor Group Innovation Center in Singapore (HMGICS).

TeamViewer and Hyundai Motor Company will cooperate to maximize digitalization benefits in HMGICS' smart factory using TeamViewer's augmented reality (AR) platform, which includes mixed reality (MR) and artificial intelligence (AI) capabilities. The platform will support assembly, maintenance, quality management, logistics, client experience projects and workforce training.

The two companies will conduct joint research and development (R&D) activities in AR-powered smart factory operations, immersive digital experience for frontline workers and AI support for a future automotive factory.

Overall, the partnership will drive increased productivity, accuracy, speed and safety of frontline production workers. To leverage these benefits for the industry, the two parties will also pursue global joint marketing of smart factory and enterprise AR technology.

"We are pleased to have TeamViewer as a key technology partner for digital transformation in building a smart factory," said Hong Bum Jung, Chief Executive Officer of HMGICS. "Developing an intelligent manufacturing platform is an important part of Hyundai's strategy to lead the future mobility industry. We are continuously innovating the overall mobility value chain, which includes presenting a vision for a future mobility smart factory. We expect the partnership will further accelerate our transition to smart factory and enhance its efficiency.

Sojung Lee, President for TeamViewer Asia Pacific, said, "We are excited to collaborate with Hyundai Motor Company in digitalizing manufacturing processes and building an automotive factory of the future. As digital transformation has accelerated on the shopfloor, there is a growing need for AR solutions like TeamViewer Frontline that helps by optimizing manual work processes in industrial environments. Our collaboration with Hyundai Motor Company will further solidify our position as an enterprise software provider with specialized solutions for the manufacturing industry and it will strengthen our role as a leading player in the industrial metaverse space."

HMGICS, the Group's test bed and a global open innovation hub, aims to develop new EV business models, forge innovative partnerships, produce mobility products, and develop the Group's intelligent manufacturing platform to revolutionize the overall mobility value chain.

Disclaimer

TeamViewer AG published this content on 30 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2022 08:13:03 UTC.


ę Publicnow 2022
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Analyst Recommendations on TEAMVIEWER AG
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Financials
Sales 2022 565 M 587 M 587 M
Net income 2022 70,8 M 73,7 M 73,7 M
Net Debt 2022 466 M 485 M 485 M
P/E ratio 2022 32,8x
Yield 2022 -
Capitalization 2 196 M 2 284 M 2 284 M
EV / Sales 2022 4,72x
EV / Sales 2023 3,92x
Nbr of Employees 1 364
Free-Float 73,8%
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Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 12,41 €
Average target price 13,50 €
Spread / Average Target 8,81%
EPS Revisions
Managers and Directors
Oliver Steil Chief Executive Officer
Michael Wilkens Chief Financial Officer
Abraham Peled Chairman-Supervisory Board
Mike Eissele Chief Technology Officer
Kai Werner Group General Counsel, Head-Legal & Compliance
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