Sage bids for Norwegian vendor
£334 million bid for Visma
Listed accountancy vendor Sage is to make an offer to acquire Oslo-based
business software vendor Visma for approximately £334m.
The proposed offer, though subject to the completion of due diligence, is
recommended by Visma’s board of directors.
Visma is the largest Scandinavian vendor of business management solutions for
small and medium-sized businesses and had revenues of approximately £166m last
Paul Walker, Sage’s chief executive, said: ‘The proposed acquisition of Visma
is consistent with the Sage strategy of expanding geographically into new and
attractive markets. We see significant potential to build on Visma’s leading
position in the Scandinavian SME market.’