Visma

Former Visma CEO and now chair of the board, Øystein Moan (born 1959), earned an MSc in computer science at the University of Oslo. Prior to Visma, Moan was the founder and managing director of [https://www.continuous-innovation.net Cinet AS]. After becoming CEO of the Visma Group in 1997, he grew the company from 300 to 8,500 employees and increased the revenue from NOK 250 million to €1.1 billion (2019 figures).

In 2020, Moan was succeeded by Merete Hverven.{{Cite web |last=Hoeffnagel |first=Wouter |date=2019-12-16 |title=Merete Hverven volgt Øystein Moan op als CEO van Visma |url=https://dutchitchannel.nl/636660/merete-hverven-benoemd-tot-ceo-van-visma.html |access-date=2022-04-19 |website=Dutch IT Channel |language=nl}}

Current Visma CEO, Merete Hverven (born 1977), has a Master's degree in Finance and International Leadership from the University of St. Gallen and NHH Norwegian School of Economics. After joining Visma in 2011, she held several roles including Deputy CEO and Chief HR Officer. Since she became CEO in March 2020, Visma's revenue has increased from €1.13B in 2019 to €2.39B in 2023, while the number of employees has risen from 9,113 to 15,107 in the same period. Visma has also entered 9 new countries since she began as CEO, bringing the total to 32 as of June 2024.

1996: The Visma Group had its first year of operations and was listed on the Oslo Stock Exchange. Shortly after listing, Visma started operating as a public company.{{Cite web |last=Annasha |date=2021-09-22 |title=Visma - A Leading Software Company In The Nordic Region And Europe. |url=https://www.yourtechstory.com/2021/09/22/visma-a-leading-software-company-in-the-nordic-region-and-europe/ |access-date=2023-02-27 |website=Your Tech Story |language=en-US}} MultiSoft ASA, SpecTec ASA and Dovre Information Systems AS merged. They had three key products: SpecTec (marine), Visma Logistics and Visma Business.

1997: Due to growth ambitions that exceeded the company's resources, the company experienced a financial crisis in the year's second quarter. The company had to be refinanced and re-structured and most of the management and the Board of Directors were replaced. Øystein Moan joined as CEO and the new board managed to raise MNOK100 in new share capital but had to lay off one-third of the company's staff.

1999: Visma established subsidiaries in Denmark and United Kingdom. The company made its first step towards SaaS launching Visma Business e-commerce and starting work on developing web and WAP extensions of all the Visma applications.

2000: The major event of 2000 was the sale of Visma Marine ASA's operations to Dutch company Station12.[http://www.telecompaper.com/news/visma-to-sell-division-to-station-12--229044 Visma to sell division to station 12] Visma received a cash payment of MNOK730, which was a considerable financial resource that was used to generate more growth. The new strategy was to offer both software and outsourcing within accounting, finance and payroll.

2001: Visma acquired {{Ill|Scandinavian PC Systems|lt=Spcs|sv}} (formerly Scandinavian PC Systems), the Swedish market leader within the small business segment.[http://www.visma.com/globalassets/global/visma.com/notices/archive-1998-2006/807552_5.html/ Agreement on integration with SPCS] Later in the year, the company entered the Finnish market through the acquisition of Liinos.

2002: With the Spcs developed software “Avendo”, Visma entered the Norwegian micro market. The acquisition of Møre Datasystemer saw Visma enter the public sector in Denmark.

2003: Visma entered major cooperation agreements with Norway's largest bank (DNB) and the national postal service.

2004: Visma established an electronic data center in Oslo, which processed 2 million incoming invoices in 2005. The company also increased its offering in the public sector with debt collection and temp services added to the portfolio.

2005: There was steady growth – both organically and through eleven acquisitions. Visma's Management Trainee program was initiated.

2006–2008: Visma entered the Dutch market through the acquisition of software company AccountView.[http://www.hgcapital.com/news/hgcapital-strengthens-visma-through-acquisition-accountview-bv HgCapital strengthens Visma AS through the acquisition of AccountView B.V.] A change of ownership saw British private equity firm Hg Capital become the new majority owner. Hg Capital de-listed Visma from the Oslo Stock Exchange.

2009: The company's Retail IT division was established, providing retail businesses with hardware and consultancy services to aid with implementation and support. This was also the year Visma's new headquarters in Skøyen, Oslo was completed ready to house over 1,000 of the company's Norwegian staff.[http://www.visma.com/press-releases/archive/Archive/16062009--official-opening-of-vismas-new-headquarters-in-oslo-1/ Official opening of Visma’s new headquarters in Oslo] Visma reached 10,000 SaaS users and became Finland's second largest accounting firm.

2010: KKR acquired a 76.9% ownership in Visma.[https://www.bloomberg.com/news/articles/2010-09-26/kkr-agrees-to-pay-935-million-for-stake-in-norwegian-software-maker-visma KKR Agrees to Pay $935 Million for Stake in Software Maker] At the time, the transaction valued Visma at an enterprise value of NOK11 billion. Visma was KKR's first investment in Norway. Hg Capital, the previous majority owner of Visma, retained a significant minority ownership of 17.7%. At the same time, Visma's management increased its ownership in the business to 5.3%.[http://www.visma.com/press-releases/archive/Archive/26092010--kkr-to-become-new-majority-owner-of-visma-1/ KKR to become new majority owner of Visma]

Earlier that year, Visma entered the IT consultancy market in Norway, Sweden and Denmark through the acquisition of Sirius IT.[http://www.visma.com/press-releases/archive/Archive/10062010---visma-further-strengthens-its-nordic-position-through-acquisition-of-sirius-it-1/ Visma further strengthens its Nordic position through acquisition of Sirius IT]

2011: In Norway, Visma acquired Mamut, its rival in the micro segment.[http://www.accountancyage.com/aa/news/2077169/visma-offer-buyout-mamut Visma offers to buy Mamut][http://www.visma.com/press-releases/archive/Archive/09062011---visma-intends-to-make-voluntary-offer-to-acquire-mamut-1/ Visma intends to make voluntary offer to acquire MAMUT] Included in the acquisition was an international web hosting company Active24.

2012: Visma launched Visma.net – for small and medium-sized businesses.[http://www.visma.com/press-releases/archive/Archive/10092012---vismanet-is-vismas-complete-business-solution-in-the-cloud-tailor-made-for-the-future/ Visma delivers a strong quarter and launches ground-breaking cloud services] At the launch, the suite included ERP, CRM and Expense Management. Later that year, Visma introduced Net Promoter Score, a customer satisfaction and nurturing program, for all of its products.

2013: Visma signed a significant deal in Norway to develop administrative and communication solutions for Norwegian schools. Through the acquisition of the Duetto Group, Visma entered the Finnish debt collection market.[http://www.visma.com/press-releases/archive/Archive/14082013---visma-acquires-duetto-group-and-enters-the-finnish-debt-collection-market/ Visma acquires Duetto Group and enters the Finnish debt collection market]

2014: Visma widened its shareholder base to include Cinven, gaining a new valuation of NOK21 billion.[http://www.marketwatch.com/story/visma-valued-at-nok-21-billion-widens-shareholder-base-2014-04-28 Visma, Valued at NOK21 Billion, Widens Shareholder Base][https://www.reuters.com/article/visma-cinven-idUSL6N0NK1HF20140428 Buyout firm Cinven to invest in Norway's Visma As] The new ownership structure gave Cinven, Hg Capital and KKR 31.3% ownership each, and the Visma management received 6% ownership.[http://www.visma.com/press-releases/visma-widens-shareholder-base.-valued-at-nok-21-billion./ Visma widens shareholder base. Valued at NOK21 billion]

2015: Visma established a new business unit – Visma Employee Management – for payroll and HRM outsourcing services. Visma also conducted several major acquisitions: e-conomic (DK), SpeedLedger (SE), Huldt & Lillevik(NO), PBJ (DK), Viklo Oy (FI), Aditro Public (SE), Digital Booker (FI) and Abalon (SE).{{Cite web|url=https://www.visma.com/about-visma/history/|title=The history of Visma}}

2016: Visma sold its BPO division (outsourced accounting, payroll and HR services) to Hg Capital to focus on its cloud software business. Visma also acquired over 20 cloud software companies in Europe.{{Cite web|url=https://www.visma.com/press-releases/divestiture-bpo/|title=Divestiture of the Visma BPO division}}

2017: Visma acquired Bluegarden, improving its position in the Danish payroll segment. During the year, Visma acquired a total of 12 companies, including Admincontrol, Megaflex Oy and NYCE solutions, expanding its offering in several new business areas.

In June 2017, Visma's shareholder structure changed after KKR sold its entire remaining stake in Visma to an investor group led by Hg Capital together with GIC, Montagu and ICG.{{Cite web|url=https://www.visma.com/about-visma/history/|title=History|website=www.visma.com|language=en|access-date=2018-09-14}}

2018: Visma acquired Raet, a large Dutch enterprise providing payroll and HCM (Human Capital Management) software.{{Cite news |last=Brooks |first=Steve |date=2018-05-30 |title=Visma to buy Raet and expand presence in Netherlands |url=https://www.enterprisetimes.co.uk/2018/05/30/visma-to-buy-raet-and-expand-presence-in-netherlands/ |access-date=2022-08-09 |website=Enterprise Times |language=en-GB}}

2019: Visma had a total turnover of NOK 16,500,000,000.{{Cite web |title=Organisation |url=https://www.visma.com/organisation/ |access-date=2022-06-15 |website=www.visma.com |language=en}}

2020: Visma acquired [https://www.yukisoftware.com/be-nl/?utm_source=google&utm_medium=cpc&utm_campaign=branded&utm_content=yuki%20software&utm_term=yuki%20software&utm_source=google&utm_medium=cpc&utm_campaign=branded&utm_content=yuki%20software&utm_term=yuki%20software&kw=yu Yuki], a Dutch bookkeeping software platform.{{Cite web |title=Yuki Works B.V., Acquired by Visma Oy on August 4th, 2020 {{!}} Mergr |url=https://mergr.com/yuki-works-b.v.-acquired-by-visma-oy |access-date=2022-06-28 |website=mergr.com}}

2021: Visma acquired ProSaldo.net, an Austrian bookkeeping and billing software platform, and Holded, a Spanish ERP and accounting company.{{Cite web|last=Taylor|first=Dan|date=2021-06-18|title=Holded now held by Visma for more than €120 million|url=https://tech.eu/2021/06/18/holded-now-held-by-visma-for-e120-million/|access-date=2022-02-08|website=Tech.eu|language=en-GB}}

2022: Visma entered the French market via the acquisition of Inqom. Visma also acquired Dutch financial software company Lyanthe and Belgian software developers IonProjects and Teamleader.{{Cite web |date=2022-03-14 |title=Norwegian cloud software firm Visma acquires Lyanthe to automatic invoice processing |url=https://siliconcanals.com/news/startups/norwegian-visma-acquires-lyanthe/ |access-date=2022-06-07 |website=Silicon Canals |language=en-US}} In May 2022, Visma announced the acquisition of Danish time registration system Intempus.{{Cite web |title=New acquisition strengthens Visma's position in the Danish SMB market |url=https://www.mynewsdesk.com/visma/pressreleases/new-acquisition-strengthens-vismas-position-in-the-danish-smb-market-3180154 |access-date=2023-03-09 |website=Mynewsdesk |date=5 May 2022 |language=en}} Visma sold one of its Lithuanian subsidiaries to CVC Capital Partners. The remaining one is Visma's external programming service, based in Vilnius CBD.{{cite web | last=Grinkevičius | first=Paulius | title=Liuksemburgo CVC perka "Vismos" padalinį, kuriam priklauso ir dalis Lietuvos programuotojų | website=vz.lt | date=2022-06-16 | url=https://www.vz.lt/inovacijos/technologijos/2022/06/16/liuksemburgo-cvc-perka-vismos-padalini-kuriam-priklauso-ir-dalis-lietuvos-programuotoju | language=lt | access-date=2024-03-09}}

2023: Visma entered the German market with the acquisitions of German financial software companies H&H and BuchhaltungsButler.{{Cite web |last=Klugt |first=Geert van der |date=2023-01-12 |title=Visma enters German software market |url=https://www.techzine.eu/news/applications/99499/visma-enters-german-software-market/ |access-date=2024-06-20 |website=Techzine Europe |language=en}} Visma also acquired Belgian company Silverfin,{{Cite web |last=Herbert |first=Tom |date=2023-10-06 |title=Visma snaps up Silverfin in €300m deal |url=https://www.accountingweb.co.uk/tech/accounting-software/visma-snaps-up-silverfin-in-eu300m-deal |access-date=2024-06-20 |website=AccountingWEB |language=en}} a provider of cloud accounting software.

In 2018, Visma signed a five-year sponsorship deal with the professional road cycling team Team-Jumbo Visma, which was one of the teams that competed in the UCI World Tour. The sponsorship began 1 January 2019. The team won the 2022 Tour de France with Jonas Vingegaard, the 2023 Giro d'Italia with Primož Roglič, the 2023 Tour de France with Jonas Vingegaard, and the 2023 Vuelta a España with Sepp Kuss. It also took the Green Jersey in Le Tour de France Femmes with Marianne Vos.

Following the change of the CEO at Jumbo and its subsequent withdrawal from its World Tour cycling sponsorship, Visma took over as the primary sponsor, from the beginning of the 2024 season, for the team now called Visma–Lease a Bike (disambiguation).

From the 2015/2016{{Cite web |title=Long distance ski championship to be renamed Visma Ski Classics |url=https://www.visma.com/news/long-distance-ski-championship-to-be-renamed-visma-ski-classics |access-date=2024-06-20 |website=www.visma.com |language=en}} through 2021/2022 ski seasons,{{Cite web |title=Visma decides not to renew title sponsorship in Ski Classics |url=https://www.visma.com/news/visma-decides-not-to-renew-title-sponsorship-in-ski-classics |access-date=2024-06-20 |website=www.visma.com |language=en}} Visma was also the title sponsor of Visma Ski Classics, a long-distance ski racing championship.

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Category:Companies based in Oslo

Category:Companies formerly listed on the Oslo Stock Exchange

Category:Customer relationship management software companies

Category:ERP software companies

Category:Kohlberg Kravis Roberts companies

Category:Software companies of Norway

Category:1996 establishments in Norway