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Visma finalises divestment of IT consulting business focused on digital transformation

Press release -

Visma finalises divestment of IT consulting business focused on digital transformation

On June 16 2022, Visma announced an agreement to divest its IT consulting business focused on digital transformation, formerly a part of Visma Custom Solutions, to CVC Capital Partners Fund VIII. The transaction is now finalised.

In a press release this morning, the new company has officially launched under its standalone brand “twoday”, and will employ more than 2,200 highly skilled professionals across 30 offices in the Nordics and Lithuania, serving more than 8,000 customers in the private and public sector.

A key rationale for the transaction is that both Visma and twoday can achieve even stronger growth as two separate businesses. With its focus on customised software development, the bespoke nature of IT consulting differs from the rest of the Visma Group, which is centred around SaaS (Software as a Service) and standardised products.

The transaction further streamlines Visma as Europe’s leading provider of mission-critical cloud software.

“I’m very pleased to finalise this transaction, and I’d like to extend my best wishes to our former colleagues as they embark on a new journey, under CVC ownership and with a new and exciting brand. For Visma, this means even sharper focus on our core business going forward, and additional funds to pursue our ambitious growth strategy”, says Merete Hverven, CEO of Visma.

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Visma is a leading provider of mission-critical business software for a more efficient and resilient society. By simplifying and automating the work of companies and organisations of all sizes, we improve people's everyday lives. With 13,500 employees, 1,400,000 private and public sector customers across Europe and Latin America, and net revenue of € 2,081 million in 2021, we are committed to making tomorrow better than today. Visit us at visma.com.

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Lage Bøhren

Lage Bøhren

Head of Communication Norway +47 921 57 801

Shaping the future of society through technology

Visma is a leading provider of mission-critical business software for a more efficient and resilient society. By simplifying and automating the work of companies and organisations of all sizes, we improve people's everyday lives. With 13,500 employees, 1,400,000 private and public sector customers across Europe and Latin America, and net revenue of € 2,081 million in 2021, we are committed to making tomorrow better than today. Visit us at visma.com.

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