Visma acquires Raet
Friday, July 6, 2018
Visma has acquired 100 percent of the shares of Raet. Combined, Raet and the Visma Group are now Europe’s leading cloud company specialised in the development of solutions that are critical for small, medium and large business and enterprises, both private and public.
The acquisition is mutually beneficial and provides growth opportunities by leveraging the synergies between Raet’s current offering and Visma’s overall HRM strategy. This will provide great benefits to customers and employees as the combination brings strategic future initiatives to fruition more quickly and efficiently. The combination of Visma and Raet will lead to an even stronger focus on offering relevant solutions to the market.
“Visma’s acquisition of Raet is not only an investment in great technology but also in people and competence. Raet’s markets are important for Visma, and together with Raet we see mutual opportunities to continue delivering even more sustainable solutions for new and existing customers”, Øystein Moan, CEO of Visma Group, says. “Raet and Visma combined will consist of 3,000 developers, who are all dedicated to creating customer value through new technology such as algorithms, optimisation, machine learning and AI. There is no limit to what we can achieve with the right people and technology”, Moan continues.
“The Raet organisation is now part of the Visma-Group under the overall leadership of Øystein Moan. After four fantastic years as CEO of Raet this is then also the right moment for me to move on to new opportunities”, Kobe Verdonck says.
The new Raet organisation will report country by country to the Visma Group.
No specifics regarding the transaction will be disclosed.
Raet, founded in the Netherlands in 1965, specializes in world-class HR cloud software
and HR services, which support the HR needs of over 10,000 organizations. Raet
simplifies and digitalizes HR for 3 million people internationally through its cloud solutions.
Today Raet consists of 1,200 highly qualified employees, with a net revenue of EUR 161
million in 2017 and has presence in the Netherlands, Belgium, Germany, Spain, Argentina, Peru, Chile, Mexico and Colombia.
For more information, please contact:
Øystein Moan, CEO Visma Group, +47 92 08 00 00