Visma had another strong quarter and continued double-digit revenue growth in software sales. Transformative acquisition activity results in leading market positions, in both Denmark and Sweden.
The demand for SaaS services is steadily increasing and SaaS and SaaS transactions continue to be the strongest driver of growth in Visma also this quarter. The high growth in SaaS revenue continued, achieving an impressive 37% for the second quarter 2015 compared to Q2 2014, reaching NOK 269 million.
Visma also continued a double-digit software sales growth during the second quarter. Visma is steadily launching new SaaS products, and heavy investment in SaaS continues.
– As Visma is selling non-luxury “must-have-solutions” there will be plenty of opportunities in uncertain economies. We see more interest in all kind of subscription or leasing solutions over buying one-off licenses, says Øystein Moan, CEO of Visma.
Transformative acquisition activity
Visma made transformative acquisitions in terms of SaaS and strategic geographies during the second quarter. Visma acquired the leading Danish SaaS accounting software business, e-conomic, and a strong Danish SMB payroll software company PBJ. Together, these make Visma one of the leading ERP/HRM software companies within the SMB segment in Denmark.
Visma also acquired a leading SaaS SMB software company, SpeedLedger, in Sweden. This further strengthens Visma’s leading position in the micro/SMB accounting software market in Sweden.
– These acquisition strengthens Visma’s position in both the Danish and Swedish market and increases the competitiveness and ability to deliver even more services to existing and new customers, Moan says.