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The history of Visma

Øystein Moan on the rise of Visma

CEO Øystein Moan looks back at the events and strategic decisions that took Visma from
near bankruptcy to the pinnacle of the regional market in little over a decade. (4:07) 


 
 




 

Highlights in the history of Visma

 
Year
Highlights
EBITDA (NOK1000)
Employees
1996 Visma is founded in Oslo, Norway through the merger of MultiSoft, SpecTec and Dovre Information Systems. 21,694 NA
1997 Financial crisis and turnaround.

Re-financed and re-structured.

New strategy.

Replaces most of the management and the Board of Directors is replaced.

Øystein Moan named CEO.
−37,177 310
1998 A stable and strong enterprise. 

Building the Visma Marine Division to a global leader within the shipping industry.
 27,994  325
1999 Visma Software enters Denmark and the UK.

First step towards SaaS: Visma Business e-commerce was launched, and work started on developing Web and WAP extensions of all the Visma applications.
 42,062  400
2000 The Visma Marine division sold to Dutch company Station12 for NOK 730 million.

Considerable financial resources to ensure growth.

New strategy: To offer both software and outsourcing within accounting, finance and payroll.

New division structure: From Visma Business, Visma Logistics, Visma Marine to Visma Business (Software), Visma Services.
 659,749  180
2001 Visma Logistics launched two new Internet products: one for e-procurement and one for CRM.

Spcs acquisition.

Acquires 11 leading accounting practices.

Enters Finland through the acquisition of Liinos.
 48,456  1,570
2002 Avendo (Spcs) launched in Norway - Visma enters the Norwegian micro market.

Visma Services enters the Danish market through the acquisition of Bogholderi & Administrasjon.

Through the acquisition of Møre Datasystemer, Visma enters the public sector market.
 72,537  1,570
2003 Visma enters major cooperation agreements with Norway's largest bank (DNB) and the national postal service. 91,507  1,749
2004 Establishes electronic data centre in Oslo: 2 million incoming invoices in 2005.

Visma enters the public sector market with debt collection and temp services.
113,329  2,097
2005 Major re-branding campaign in Sweden.

New division: Visma Financial & Productivity Service (Collectors, Personnel, Ajourit, Advantage).

Management Trainee Program introduced.
 258,000  2,347
2006 Enters The Netherlands through the acquisition of AccountView.

Change of ownership: British private equity firm HgCapital becomes new majority owner.

De-listed from the Oslo Stock Exchange.

Major branding campaign in Norway.
 304,913  2,515
2007 60 % growth in EBITDA.  489,969  2,843
2008 3 billion NOK in revenue establishes Visma as a major player in the Nordic region.  555,395  3,092
2009 Retail division established.

New HQ on Skøyen, Oslo.

Becomes second largest accounting firm in Finland.

10 000 SaaS users.
 684,179  3,758
2010 KKR new majority owner.

The acquisition of Sirius sees Visma enter the Software Consulting market in Norway, Sweden and Denmark.
 815,103  4,442
2011

Visma aquires Mamut.

The acquisition of Active24 sees Visma enter the hosting market.

 934,104  4,501
2012 Visma launches Visma.net - a world-leading SaaS solution for small and medium sized businesses.

Visma introduces Net Promoter Score - a renowned customer satisfaction and nurturing program.
 1,114,343 5,385
2013

Visma signs its biggest deal to date to develop admin and communication solution for Norwegian schools.

Visma enters partnership with Swedish Internet company InExchange enabling Visma customers to send and receive e-invoices plus a range of other services.

Visma acquires Duetto Group and enters the Finnish debt collection market.

 

 1,325,145  5,648
2014

Visma widens shareholder base and is valued at NOK 21 billion. New owner constellation is KKR 31,3 %, HgCapital 31,3%, Cinven 31,3%, and management of Visma 6%.

Visma enters the Latvian ERP market through the acquisition of the FMS Group.

Strong growth in Finland through the acquisitions of Logium, Finvalli and Priorite.

Visma acquires Wallmob – an innovative multi-channel retail solution.

 1,475,633  6,300


2015

Visma establishes a new business unit – Visma Employee Management – dedicated to payroll and HRM outsourcing services.

Visma conducts several major acquisitions: e-conomic (DK), SpeedLedger (SE), Huldt & Lillevik (NO), PBJ (DK), Viklo Oy (FI), Aditro Public (SE), Digital Booker (FI) and Abalon (SE).

Visma becomes the title sponsor of Visma Ski Classics – the long distance championship. Through the sponsorship deal Visma reaches more than 50.000 participants and 70 million TV viewers.

1,744,331 7,440