Hg-backed Visma Attracts New Investors in €19bn Equity Transaction
December 21, 2023
Hg-backed software group Visma expanded its shareholder base in a transaction valuing the company at EUR 19 billion, welcoming around 20 new investors and raising over €1bn from new investors plus roughly €3bn of new investment from existing shareholders. Named new investors include Altaroc, Jane Street, NPS and the NYC Retirement System, while existing/co-investors providing further capital include Hg, ICG, TPG and Visma management to support continued international expansion and product innovation.
- Buyers
- Altaroc, Jane Street, NPS, NYC Retirement System, Hg, ICG, TPG, Visma management
- Targets
- Visma
- Industry
- Software
- Location
- Norway
- Transaction Type
- Growth capital
Explore More
Related Acquisitions
-
Visma Acquires Brazil-Based Micro‑Entrepreneur Platform MaisMei
February 13, 2026
Cloud & SaaS
Norwegian software provider Visma has acquired MaisMei, a Florianópolis‑based mobile-first compliance and business management platform for Brazil’s Individual Micro Entrepreneurs (MEIs). The deal expands Visma’s footprint in Brazil and creates a product "start‑to‑scale" pathway by linking MaisMei’s compliance tools with Visma’s Conta Azul cloud ERP offering.
-
Visma Acquires Link My Books
February 13, 2025
Cloud & SaaS
Visma has acquired Link My Books, an automated bookkeeping SaaS for e-commerce sellers, in a deal advised by FE International. The acquisition expands Visma's cloud accounting capabilities and gives Link My Books access to greater resources to support international growth while retaining operational autonomy.
-
Visma Acquires Silverfin
September 25, 2023
Cloud & SaaS
Norwegian software group Visma has acquired Silverfin, a Ghent-based cloud accounting software provider, to strengthen its position in cloud accounting across Europe and expand its presence in the Belgian market. Silverfin — founded in 2013 with ~170 employees and ~850 direct customers — will continue to scale its cloud-native post-accounting platform within Visma, leveraging its AI capabilities and international customer base.
-
Visma Secondary Sale to Aeternum, Folketrygdfondet, Vind and GIC Valuing Company at €16B
September 10, 2021
Cloud & SaaS
Visma completed a secondary sale to institutional investors Aeternum Capital, Government Pension Fund Norway (Folketrygdfondet), Vind and GIC at a valuation of €16 billion, expanding its shareholder base to support further European and international expansion. Hg remains the majority owner alongside existing co-investors, and the new investors will support Visma’s continued cloud and product growth.
-
Hg-Led Consortium Acquires Visma as Montagu Fully Exits
August 21, 2020
Cloud & SaaS
Hg’s Saturn team led a consortium of existing and new investors — including GIC, CPPIB, TPG, Warburg Pincus, General Atlantic and ICG — in a transaction that buys Montagu’s stake in Visma and values the company at NOK 110 billion (US$12.2 billion), the largest-ever software buyout. The deal recapitalizes Visma’s investor base (Hg retaining ~54% post-transaction) and brings additional growth capital to the Oslo-headquartered SaaS leader, which employs over 11,000 people and serves more than one million business customers.
-
Hg Increases Ownership in Visma; Cinven Sells Remaining Stake
April 18, 2019
Software
Hg Saturn (Hg) and its investors agreed to a further ~€640 million equity investment in Visma, with the Canada Pension Plan Investment Board (CPPIB) committing ~€110 million. As part of the transaction Cinven sells its remaining stake, valuing Visma at an enterprise value of over €6.5 billion and leaving Hg-managed funds with about a 63% ownership alongside co-investors including GIC, ICG and Montagu.
Build a buyer list for your deal
Find active buyers from recent acquisition patterns and move straight into outreach.