Feb 12 (Reuters) - German software developer TeamViewer

laid out its medium-term revenue growth targets on

Wednesday after it completed its acquisition of IT firm 1E,

sending its shares around 5% up.

TeamViewer forecast revenue in 2028 to be between 1.03

billion and 1.06 billion euros ($1.07-$1.10 billion) with an

adjusted EBITDA margin forecast of 44% to 45%.

The company generated revenue of 671 million euros in the

fiscal year 2024, while the adjusted EBITDA margin stood at 44%.

Shares of TeamViewer were 5.2% higher by 1046 GMT.

TeamViewer made a strategic acquisition of London-based IT

firm 1E for $720 million in December.

Shares in TeamViewer were volatile over the last two months,

falling by more than 20% after the acquisition announcement,

followed by a gradual recovery on stronger-than-expected

preliminary full-year results.

While stock market reaction on the news was initially not

good, 1E comes with major blue-chip customers and a focus on the

U.S. market, expanding TeamViewer's global footprint, CEO Oliver

Steil told Reuters.

"It is never very cheap to make an acquisition, but it's

important to develop strategically," Steil said, adding that the

combined entity sees good medium and long-term synergy

potential.

The enterprise business, which accounts for about 23% of

total revenue, has been growing in significance for TeamViewer.

In the fourth quarter of 2024, its revenue rose 37% to 45.5

million euros from 33.3 million a year ago. The growth was

largely seasonal as most of the enterprise business occurs

towards the year's end, Steil said.

On the U.S. market, he noted slightly improved sentiment

among the company's customers and partners following the

presidential election there. Prior to the election, TeamViewer

had experienced uncertainty and slower purchasing from its

customers.

The Americas region contributes about 35% of the company's

total revenue.

($1 = 0.9653 euros)