TeamViewer IPO Gives Germany Its First Tech Champion in Decades

Germany will finally get another major listed tech company when software maker TeamViewer AG completes a 2.3 billion-euro ($2.5 billion) initial public offering this month -- the biggest in the industry in almost two decades.

While Germany has several established tech companies, including software giant SAP SE, there have been few sizable newcomers since chipmaker Infineon Technologies AG listed in 2000. TeamViewer will provide a boost to the weakest European IPO market in years and comes as Germany’s economy teeters on the brink of a recession. The share sale, which is oversubscribed, will be the country’s largest so far this year.