What is Visma?

Founded in 1996 in Oslo, Norway, Visma is the leading supplier of mission critical Enterprise Resource Planning (“ERP”) software and IT-related consultancy in the Nordics as well as the Benelux region.

What does Visma do?

Visma’s software automates a wide range of business processes including accounting, financial management, procurement, HR and payroll, e-government and school and welfare. Its solutions provide millions of end-users in both the private and public sector with software that streamlines core processes that are often mandatory, regulated and specific to each geography

The Opportunity

Why Hg invested in the business:

  • To consolidate a fragmented market for the benefit of the customer. Visma is a clear category leader in the ERP Software as a Service (“SaaS”) space. Visma is 8 times the size of its next largest competitor in Europe and 17 times the size of its largest competitor in Europe
  • To support business critical software and functions as the world transitions to a blended work environment
  • To build even further on its scalable and high margin SaaS-based recurring revenue business model

Why we like the investment:

“Visma has become a rare and strategic asset in the European software market, as one of the leading SaaS ERP software providers to SMEs, providing business critical software to over a million customers. In the next phase of Hg’s ownership, we expect Visma to continue its consistent trajectory of organic growth, driven by increasing software penetration in SMEs, the transition to SaaS and entry into additional international markets. Visma also has an outstanding track record of M&A, both in acquiring new product capability and to accelerate growth in new geographic markets.” – Alistair Watson, Senior Investment Director, abrdn.

Investment date








Risk warning
Risk warning
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