Visma (acronym for Visual management[3]) is a privately held company headquartered in Oslo, Norway, that provides cloud accounting, payroll, invoicing, and HR business software products.[4] The majority of the company is owned by HgCapital, a private equity firm.[5] The Group's market segments include small business, medium business, public, and ecosystem.[6] The Visma Group operates across Europe and a number of countries in Latin America.[7]
The company was formed through the merging of three local companies, Multisoft, SpecTec and Dovre Information Systems, in Norway in 1996.[8][9] It was listed on the Oslo Stock Exchange later that year.[10]
The major event of 2000 was the sale of Visma Marine's operations to Dutch company Station12.[11] Visma acquired Spcs (formerly Scandinavian PC Systems), the Swedish market leader within the small business segment in February 2001.[12]
In May 2006, HgCapital made a offer for the company worth €552 million; HgCapital then took the company private.[13] Visma then entered the Dutch market through the acquisition of software company AccountView in December 2006.[14]
KKR acquired a 76.9% ownership in Visma in September 2010.[15] However, KKR then sold its stake for $1.8 billion in June 2017.[16]
In February 2017, Visma acquired the biggest employee benefits platform in Denmark, LogBuy. LogBuy provides companies with access to a digital portal offering discounts and benefits for employees. The acquisition expanded Visma’s portfolio within HR-related services.[17]
Visma acquired Raet, a large Dutch enterprise providing payroll and HCM (Human Capital Management) software in May 2018,[18] and Yuki, a Dutch bookkeeping software platform in August 2020.[19] It then bought Holded, a Spanish ERP and accounting company, in June 2021,[20] and ProSaldo.net, an Austrian bookkeeping and billing software platform, in October 2021.[21]
The company acquired Dutch financial software company Lyanthe in March 2022[22] and Belgian software developers IonProjects and Teamleader in April 2022.[23] Visma sold one of its Lithuanian subsidiaries to CVC Capital Partners in June 2022.[24] The remaining one is Visma's external programming service, based in Vilnius CBD.[25]
Visma entered the French market via the acquisition of the software developer, Inqom, in September 2022.[26] It then entered the German market with the acquisitions of German financial software companies H&H and BuchhaltungsButler in January 2023.[27] It also acquired Belgian company Silverfin, a provider of cloud accounting software, in October 2023.[28] In April 2025, Visma acquired a minority stake in the German-Belgian fintech company Acountable, which had introduced the first AI-based tax assistant in March 2024.[29]
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€2,804 million (2024) [1] 
