Visma acquires the largest ERP provider in Latvia and expands the footprint in the Baltics
Oslo, 18th June 2014
Visma pushes further into the Baltic region through the first acquisition in Latvia. Visma is now acquiring all shares of FMS Group, which is the leading provider of ERP (Enterprise Resource Planning) and BI (Business Intelligence) software in Latvia with a market share of more than 30 percent. This will expand Visma’s overall presence in the Baltic region quite substantially.
– The acquisition of FMS is part of Visma’s growth strategy and our focus on ERP and BI software. Visma has for a long time considered various growth possibilities in the Baltic market and we are very happy to have reached an agreement with FMS. Visma is already present in Lithuania and we believe this will open up new possibilities in the region going forward. At the same time, both the Nordic and Baltic regions are closely linked businesswise, and since the countries are members of the EU, we believe it can constitute growth opportunities as the countries also are experiencing a positive development in GDP. Our ambition is to generate further growth and make use of Visma’s strong portfolio of products and services in the Baltic region. FMS is an important acquisition with a strong product and customer base, as well as a highly competent team, Øystein Moan CEO in Visma says.
– We have for a period been looking for a partner that can help us grow and contribute with modern technology. On this basis, we approached Visma a while ago and we are very pleased that we now have been able to finalize the agreement. For FMS it is important to be part of a strong Nordic company that can contribute to develop FMS in the years ahead. Our management team and all employees are highly motivated by becoming a part of the Visma, Janis Bergs CEO of FMS says.
For further details, please contact:
Øystein Moan, CEO, Visma AS, +47 920 80 000
FMS is the leading provider of ERP and BI system as well as software consulting in Latvia. They are the biggest vendor for public sector and large account customers, and they have 197 employees. The company has more than 20 years’ experience in the field of ERP and BI.