Visma scales up its Dutch presence by acquiring DBS Business Solutions. DBS offers software solutions for payroll, human resource management and finance, and complements Visma's existing business in the Netherlands.
Almost four years after first entering the Netherlands through the successful acquisition of AccountView B.V., Visma has now bought its second Dutch company.
- With this acquisition we are positioning ourselves in order to introduce other Visma products to the Dutch market, and make additional future acquisitions, says Bjørn Ingier, head of Visma’s Software Division.
DBS has a strong brand and presence in the Netherlands, with 70 motivated employees. Bjørn Ingier is confident that the market share will grow. He sees DBS as one of the Visma Group’s future main centres of expertise within software for human resource management, payroll and accounting.
- In many ways DBS reminds me of Visma, with satisfied customers mainly in the SME segment, solid profitable business, and significant recurring revenues. We see great opportunities in the Netherlands, and it will be truly exciting to develop and take part in Visma’s further expansion plans, says Bjørn Ingier.
For 2010, DBS Business Solutions is expected to reach revenues of almost 9 million Euros, in sales with good profitability. DBS will be the first larger acquisition made by Visma with their new owner, Kohlberg Kravis & Roberts (KKR), onboard. Visma’s rapid acquisition pace is likely to be bolstered by the new owners.
- We are interested in actively reviewing and acquiring additional Dutch businesses that fit the Visma Group strategy, says Øystein Moan, CEO of Visma Group.
DBS also offers Microsoft solutions such as MS Project Server, MS Dynamics CRM and MS SharePoint. This part of the business will not be part of the acquisition, but continues as a separate legal entity under the name QS solutions. The two companies will still share the premises in Amersfoort. Paul Dols, the former MD for the DBS Group, continues as the MD for QS solutions.
- I think Visma is the perfect owner for DBS, and the plans I’ve seen for this company are very impressive. When Visma now introduces Visma International Payroll, a purely web based payroll engine, sold as a “Software as a Service” solution, it will provide DBS an even stronger position in the Dutch payroll market, Paul Dols concludes.
DBS Business Solutions BV (“DBS Solutions”) is a provider of payroll, HR and financial software based in the Netherlands, serving approximately 700 medium sized customers (companies of 200 to 600 employees). The company was founded in 1994, and has offices in Amersfoort, Holland, and in Cork, Ireland. DBS has focused on specific verticals, such as the Social Service Sector and Housing Corporations, where they have a strong position. In total, DBS provides more than 300.000 pay slips per month.
For more information, please contact:
Øystein Moan, Visma CEO, +47 920 80 000
Bjørn Ingier, Divisional Director Visma Software, + 47 934 19 200
Mikael Mannik, Director of M&A and Investor Relations in the Visma Group, + 46 735 101 220