Visma gets new investors worth E215 billion

Visma gets new investors worth E215 billion

Altaroc, Jane Street, NPS and NYC Retirement System are among the new names entering the property side of the IT group.

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Visma is now bringing on about 20 new investors. The new shareholders are investing a total of more than €1 billion, which equates to more than NOK 11 billion.

The value of the deal for Visma as a whole is 19 billion euros, the Norwegian company said in a press release on Thursday.

This equates to approximately NOK 215 billion.

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Altaroc, Jane Street, NPS and the New York City Retirement System are among the new players entering the property side. In addition, several existing shareholders, including majority owner Hg, are increasing their net investments in Visma.

Visma previously had plans to go public during 2023. But they were later put on hold, when the listing boom dried up last year.

– It confirms our development

– We are proud to receive this new declaration of confidence from Hg and other prominent investors, in a deal that confirms our impressive development and positive outlook, says Merite Hverveen, CEO of Visma, in the letter.

The IT and software company provides, among other things, cloud-based accounting solutions. The group has more than 15,000 employees and is present in 28 countries in Europe and Latin America.

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– Visma provides the digital tools businesses need to operate efficiently, innovate and stay competitive. Supported by a strong and knowledgeable shareholder base, we are ideally positioned to continue our unique growth journey, says Heverveen.

    Visma's head office is in Skøyen, Oslo

-It’s growing twice as fast now

The company also notes that the sale of businesses that provided consulting and infrastructure services in 2022 has focused the company on “software as a service” products (Managing relationships withManaging relationships withSaaS on Service in Norwegian. This means that the software is licensed through subscription and available online.) for the public and private sectors.

Vismas generated annual recurring revenue (ARR) of €2.2 billion at the end of the third quarter of this year. This is 17 percent more than the same period last year, according to the company.

Majority owner Hg says they welcome new investors in Visma.

– Visma is now growing twice as fast as when we first invested in the company in 2006, even though it is now a 20 times larger company. This incredible achievement is the result of investing in modern SaaS products over a decade ago, driven by a strong innovation capability and a world-class management team, led by Merite Hverven, says Nick Humphreys, Senior Partner at Hg.

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Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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