- Overall, Visma secured around 20 new investors
- The transaction puts Visma at a valuation of €19 billion
- Hg invests in European and transatlantic software and services businesses
Visma, an Oslo, Norway-based provider of cloud software in Europe and Latin America, has secured around over €4 billion in investments from both new and existing investors.
The new and existing investors include Altaroc, Jane Street, NYC Retirement System, ICG, TPG and Hg, which has a majority stake in Visma.
Overall, Visma secured around 20 new investors.
The transaction puts Visma at a valuation of €19 billion.
On the deal, Nic Humphries, a senior partner at Hg, said in a statement, “Today Visma is Europe’s largest private equity owned software business, growing twice as fast now compared to when we first invested in 2006, despite having become a business that’s over 20 times larger. This incredible achievement is the result of an investment in modern SaaS products over ten years ago, progressed by a thirst for innovation and a world-class management team led by Merete.”
Based in London, Hg invests in European and transatlantic software and services businesses. Hg manages over $65 billion in funds under management.