Visma announces the acquisition of Inqom. The French software developer automates accountancy through artificial intelligence (AI). Visma acquires Inqom to expand into France.
Inqom was founded in 2016. The company grew to 100 employees in the following years. Its automation software is used by more than 10,000 accountants and SMEs. Inqom is primarily active in the French market.
The latter caught the attention of Visma, a software provider with more than 1.3 million customers worldwide. In the past two years, Visma acquired nearly 80 companies. Though the organization has offices across Europe, it lacks a French market share. Inqom will open the door to France.
“We are thrilled to announce our arrival in the French market by investing in Inqom”, shared Visma CEO Merete Hverven. “Like Visma, they develop unique technology to help customers become more efficient and competitive. With this acquisition, we are pressing on with our ambitious growth strategy both in existing and new markets.”
Visma and Inqom
Inqom’s management remains intact. In addition, the startup retains its brand name. Visma values autonomy. “Many companies already have a nice strong brand”, John Reynders, Area Director Benelux at Visma, told Techzine in a recent interview. “There are situations where Visma companies decide to do business together, but nothing is imposed from the top.”
Visma specializes in business software, including financial administration, enterprise resource management (ERP) and human resources (HR). Local laws and regulations are leading for its products. Hence, Visma acquires local companies. “We practice hyperlocalization”, Reynders shared. “That way, we take a different stance than the global players who deploy their products across hundreds of countries and do a little bit of everything.”
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