Visma has acquired Hungarian provider of cloud-based billing and invoicing services, Számlázz.hu, expanding its geographic footprint in the Central and Eastern European region.
Számlázz.hu is one of Hungary’s fastest growing providers of cloud invoicing solutions with over 100,000 customers and 20 employees based in Budapest. The company has experienced strong growth over the last years with a triple-digit per cent increase in sales, and are among the most reputable companies within this sector in the Hungarian market.
A new regulation making it mandatory for Hungarian businesses to deliver real-time invoicing data to the tax authorities came into effect July 1, 2018. All systems need to be compliant, and with only a small share of the systems on the market being cloud-based, Számlázz.hu is well positioned to take a large share of the expected market growth going forward.
“We have followed the development of Számlázz.hu for quite a while, and we are impressed by their strong growth and reputable position in the market”, said Visma CEO Øystein Moan. “Visma will actively pursue other acquisition candidates in the CEE region and will mainly target the rising stars in the region.”
Számlázz.hu is the latest of several cloud acquisitions for Visma this year. Earlier this fall, Visma entered the Estonian market when they bought cloud accounting and payroll software provider Merit Tarkvara. The rapid acquisitions are part of Visma’s expansion strategy, which takes growing cloud companies and helps them progress into regional champions.
The Hungarian market is interesting for Visma with its strong GDP growth, more than 700,000 small businesses, high tech savviness, and a stable macroeconomic environment. Számlázz.hu is a national champion, with a strong platform for further growth that fits well with Visma’s expansion strategy.
“Visma is a leading company in a market that is more developed than the Hungarian, and we think very similarly about vision, value creation and customer orientation. By applying Visma’s proven solutions we can stabilise our position as market leader and focus on continuing to grow and develop our business”, said Számlázz.hu CEO Balázs Ágnyán.
Számlázz.hu is the number one FinTech company in the Hungarian online billing and invoicing software market. Their mission is to provide more time and money for their customers with their professional financial technology services and to provide them with new solutions to broaden their opportunities to make their businesses more successful.
For more information, please contact:
Eivind Gundersen, Division Director Visma Commerce Solutions, tlf. +47 932 17 677