Norway’s Visma considers 2023 IPO after 16 billion euro valuation

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Enterprise software giant Visma is eyeing a potential 2023 initial public offering. The company is now valued at $19 billion

The company said it has expanded its shareholder base through a secondary sale to leading institutional investors: Aeternum Capital, Government Pension Fund Norway (Folketrygdfondet), Vind, and GIC, valuing Visma at €16 billion ($19 billion). The new investors will support Visma’s further success and expansion in Europe. 

Following completion of the transaction, Hg, a leading global investor in software and services, will continue to own a majority stake in Visma, alongside a group of co-investors comprising GIC, ICG, CPP Investments, General Atlantic, TPG, Warburg Pincus, Visma management, and the new investors.

Visma’s core strategy will remain unchanged, providing high-quality products and services, best-in-class customer care, and innovation within cloud services to achieve business efficiency – these will remain top priorities.

Visma CEO: “the future looks bright”

Merete Hverven, Visma’s CEO, commented on the move. “It is thanks to Visma’s dedicated and talented employees, with their entrepreneurial mindset and local expertise, that we have achieved our position in Europe today. Visma has also long benefited from a supportive and knowledgeable investor base, which has been incredibly valuable to the growth of the business”. 

Visma states in marketing materials that it provides “software that simplifies and automates processes in a wide range of business areas, including accounting, HRM and payroll, invoicing, e-government, and more.”

Visma’s majority owner is Hg, a private equity firm that stated in a news release Thursday that the software company’s value as of a recent series of private investments is about $19 billion.

“It is thanks to Visma’s dedicated and talented employees, with their entrepreneurial mindset and local expertise, that we have achieved our position in Europe today. Visma has also long benefited from a supportive and knowledgeable investor base, which has been incredibly valuable to the growth of the business,” Visma Chief Executive Merete Hverven said in a prepared statement accompanying the announcement of the new investors.

Hverven added: “The future looks bright for the growth of digital services, as businesses increasingly see the value of cloud solutions to handle their most important business processes.”