Visma intends to acquire Raet
Monday, May 28, 2018
Visma Group and Raet have signed an agreement whereby Visma intends to acquire 100
percent of the shares of Raet. The agreement is subject to the parties having completed the consultation procedures with both Raet's Dutch works council and Visma's Dutch works council, and the parties having informed the relevant Dutch trade unions of the intended transaction.
Raet and Visma Group combined will become one of Europe’s leading HR solutions providers, delivering software and services to more than 10 million end-users. Customers will benefit from the joint innovation capacity and agility to help make their business more efficient and develop their organisation and people.
Raet is a highly strategic and complementary choice for Visma, strengthening its presence in the Netherlands and Belgium, where Visma already provides bookkeeping, ERP, payroll and related cloud software. The combination will also substantially expand Visma’s addressable market and allow it to provide Raet’s existing customers with access to Visma’s leading suite of cloud software applications. In addition to Visma’s existing business in the Netherlands, the combined businesses will have over €200m revenues, 1,500 employees and increase the previous customer base across the region to 50,000.
‘’The highly skilled workforce of Visma and Raet together form a strong international HRM
environment. This strengthens our ability to continue providing new and existing customers with long-term sustainable solutions’’, Øystein Moan, CEO of Visma, says. ‘’The acquisition leads to mutual added value and growth opportunities as Raet’s offering fits well with Visma’s HRM strategy’’, Moan continues.
‘’Raet joining Visma increases our world-class HR innovation and offering which will provide new opportunities for both our customers and employees’’, Kobe Verdonck, CEO of Raet, says. “By joining Visma, Raet further strengthens its position in the Dutch market”.
No details around the intended transaction will be disclosed.
For more information, please contact:
Øystein Moan, CEO Visma Group, +47 92 08 00 00
Kobe Verdonck, CEO Raet, +31 6 22 91 69 35
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 exists out 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.
Visma makes businesses more efficient, through offerings of software, commerce solutions, retail IT-solutions, and IT-related projects and consulting. Visma simplifies and digitalises core business processes within the private and public sector. 760,000 customers in Northern Europe utilise Visma's products and services, and an additional 300,000 use Visma as a hosting partner. The group has 6,700 employees and its net revenue amounted to EUR 985 million in 2017.