RTTNews | Mar 19, 2021 08:46AM EDT

08:45 Friday, March 19, 2021 (RTTNews.com) - TeamViewer (TMVWF.PK, TMVWY.PK) said that it has signed a five-year agreement to become Manchester United's new principal shirt partner. The partnership will begin with the 2021/2022 season.

Manchester United said that the partnership will introduce Manchester United and its 1.1 billion fans and followers around the world to exciting new technology drawing on TeamViewer's expertise in remote connectivity services.

TeamViewer will enable Manchester United to bring its fans even closer to the team they love through ground-breaking AR solutions and remote access to the Theatre of Dreams, Manchester United said in a statement.

Germany-based TeamViewer has been installed on over 2.5 billion devices, has nearly 600,000 subscribers, and operates in almost all countries globally.

TeamViewer said that, due to the resulting significant increase in marketing expenditure, it revised its adjusted EBITDA margin guidance for the fiscal year 2021 to 49 - 51% of billings and projects the adjusted EBITDA margin to remain around 50% over the medium term.

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