Press release -
Visma to divest retail software units
Visma has entered into an agreement with US private equity firm STG to divest its retail software units to increase the focus on developing as a pure SaaS provider.
Visma Retail has increasingly been able to sell its software in new European markets. At the same time, there have been limited synergies with other Visma divisions. The Visma Group focus has been on being a leading regional player in cloud software for both SMB, public sector and enterprise customers. It has become more clear that the group strategies have not been ideal to support the development of Visma Retail Software’s opportunities.
STG saw the opportunity to acquire the Swedish Retail-focused software company Extenda and to combine with the software business of Visma Retail simultaneously. STG approached Visma with an attractive offer and a strong business logic.
STG is a private equity firm with extensive experience in unlocking the potential of innovative companies by partnering to build customer-centric market winners both in Europe and the US. STG owns other European Retail Software companies and Extenda and Visma Retail Software will be part of a strong European group of retail-focused companies.
“We believe that Visma has assembled a tremendous set of capabilities to build and expand from, and we are excited to partner with the Visma Retail team and the Extenda team to create the next great software company in retail as an independent company,” said J.T. Treadwell, Managing Director at STG.
“The retail division is expanding into new markets, and we believe that they will benefit under new ownership dedicated to developing their business and help them grow even further in the European market”, said Visma CEO Øystein Moan.
The six entities being divested are Visma Retail AS, Visma Retail Software AS, Visma Retail AB, Abalon, NYCE and Wallmob.
Aftermarket units Esscom and Exso and e-commerce provider Trollweb will remain within Visma. These businesses with strong local market positions will continue as integral parts of the Visma Group.
For more information, please contact:
Øystein Moan, CEO Visma, tlf. +47 920 80 000
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 13,600 employees, 1,100,000 private and public sector customers across the Nordics, Benelux, Central and Eastern Europe and Latin America, and net revenue of €1,741 million in 2020, we are committed to making tomorrow better than today. Visit us at visma.com.