Visma in a secondary deal backed by Aeternum Capital, Folketrygdfondet, Vind, and GIC

Visma Group Holdings, an Oslo, Norway-based provider of business-critical software to SMBs in the Nordic and Benelux region, announced a secondary sale transaction in a deal that values the company at €16 billion ($18.9 bn).

Financial details were not disclosed.

Post-deal, the company will add to its captable institutional investors including Aeternum Capital, Government Pension Fund Norway (Folketrygdfondet), Vind, and GIC.

In 2020, the company raised funding from investors led by Hg Capital, which controlled around 54% of the company's shares. Following completion of the transaction, Hg will continue to own a majority stake in Visma, alongside a group of co-investors comprising GIC, ICG, CPP Investments, General Atlantic, TPG, Warburg Pincus, Visma management, and the new investors.

Visma, led by CEO Merete Hverven, is a provider of cloud-delivered SaaS to over one million businesses in areas such as accounting, resource planning, payroll, HR and commerce applications. Today, the company has over 13,000 employees, 1,100,000 private and public sector customers across the Nordics, Benelux, Central and Eastern Europe and Latin America, and net revenue of €1,741 million ($2bn) in 2020.