Oslo-based Visma, a provider of critical cloud software in Europe and Latin America, announced that it has expanded its shareholder base through a secondary sale to international investors, aiming to support its global growth.
The transaction values Visma at €19B and involves approximately 20 new investors contributing over €1B in equity investment. New investors include Altaroc, Jane Street, NPS, and NYC Retirement System.
Existing shareholders, including Hg, will invest around €3B, maintaining a majority stake in the company, in addition to a group of co-investors including ICG, TPG and Visma management.
Merete Hverven, CEO of Visma says, “We are delighted to receive this further vote of confidence from Hg and other leading investors, in a transaction that confirms our stellar development and attractive outlook.”
“Visma delivers the digital tools that businesses need to drive efficiency, innovate and stay competitive. Supported by a solid and knowledgeable shareholder base, we are perfectly positioned to continue our unique growth journey.”
Visma’s growth
Visma is a software business that provides cloud accounting and ERP solutions for small and medium-sized businesses. With recent expansions in France, Germany, Portugal, Peru, and Iceland, the firm now operates in 28 countries with over 15,000 employees.
In 2022, Visma refocused on standardised SaaS products, divesting non-core assets in IT consulting and cloud services.
By Q3 2023, the company reports to have achieved an annualised repeatable revenue of €2.2B, reflecting 17 per cent Y-o-Y growth and maintaining 17 years of uninterrupted revenue and EBITDA growth at 18 per cent and 22 per cent CAGR, respectively.
Visma CEO Hverven says, “Visma’s success is a result of the fantastic efforts of our highly skilled and engaged employees.”
“With our industry-leading investments in product development and AI-driven automation of critical business processes, we remain well-equipped to capture the strong growth in digital services.”
Brief about Visma
Visma claims to be a provider of mission-critical business software, simplifying and automating operations for companies and organisations.
“Visma is a collection of entrepreneurial companies, each with their own start-up mentality, personality, and leadership. All our companies have business autonomy and go-to-market freedom – a key ingredient to our growth,” says the firm.
With 15,000 employees and 1.6 million customers in Europe and Latin America, Visma aims to enhance everyday lives.
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