The Norwegian software company Visma has acquired TPG Capital and Warburg Pincus as new shareholders. Existing investor CPPIB also acquires more shares in an investment round where the company has been valued at USD 12.2 billion, some EUR 10 billion. That is more than three times as much as during the last investment round in 2014.
The fast-growing Visma is active in Europe, where it recently made a number of acquisitions. Thus, at the beginning of this year, Circle Software was incorporated. Previously, the Norwegians bought, among others, Al Idella and Raet. The company provides, inter alia, software support to small enterprises in the areas of accounting, billing and cloud services.
Recently, Bloomberg News Agency reported on the basis of insider information that the owners of Visma had dusted off their plans to make part of their stake in the Norwegian company. Before the coronacrisis erupted in all intensity, the investors were already trying to sell an interest in Visma. The crisis put those plans on the shelf.
Following the completion of this investment round, Hg will retain a majority stake (54%) in Visma. Furthermore, GIC has a 17 percent stake, ICG is 7 percent, CPPIB 6 percent, General Atlantic 2 percent, TPG 3 percent and Warburg Pincus 5 percent. Management also holds 7% of the shares.