|By Business Wire||
|April 28, 2014 02:00 AM EDT||
Visma Group Holdings (“Visma”), the Nordic region’s leading provider of business management software and services announced today that its shareholder structure, valuing the enterprise at NOK 21 billion, is now comprised of the private equity investors Kohlberg Kravis Roberts (“KKR”), HgCapital and Cinven as co-lead shareholders, each with an equal stake in the business; Nordic institutional investors, including Ilmarinen, the leading Finnish earnings-related pension insurer and Storebrand, the leading Norwegian life insurance and pension savings company as co-investors with private equity investors; and the Visma management including more than 200 managers.
KKR, the previous majority owner of Visma, will sell down from 76%, but retain a significant ownership of 31,3 % in the business. HgCapital, which has 16% of the shares now will sell out, but will re-invest with a new fund bringing them to 31,3%. HgCapital and KKR will partner with the new investor Cinven that also will hold 31,3%. Management of Visma will own 6% of the shares in Visma. Several Nordic institutional investors will co-invest with the private equity investors.
Through this transaction, there will be no change in the management or the strategy of Visma. The new owners want to develop Visma in accordance with the existing strategy and continue the rapid growth of Visma. High quality products and services, good customer care and innovations within cloud services to achieve business efficiency will still be the main strategy of Visma.
Oystein Moan, CEO of Visma said:
“Our company is a real Nordic success story. We have built a strong track record of consistent high revenue and profit growth, supported by product innovation including cloud-based business solutions and E-government solutions. Such a journey is not possible without the right shareholder base and support. I strongly feel that the mix of private equity investors, leading institutional investors and the Visma management team serves us very well in the realization of our ambitions. I am pleased by the increasing role of the Nordic institutional investor base and find this recognises the standing of our company.”
Nic Humphries, Managing Partner and Head of TMT of HgCapital said:
“HgCapital has been a partner for Visma over the past 8 years and the company is a highly successful example of our investment focus on companies with predictable revenues and high levels of intellectual property that provide platforms for growth significantly ahead of GDP growth. We are delighted to be backing the management going forward.”
Henrik Kraft, Partner, head of the European technology and telecommunications team and head of Nordic operations of KKR said:
“Quite simply, Oystein Moan and his team are creating a true Nordic Champion and we are proud to be part of the journey, supporting the team and the company in any way we can through our global network and expertise in technology.”
David Barker, Partner and Head of the TMT team at Cinven, said:
“Visma is a great business, run by a first class management team. We are very excited to be investing and will be focused on supporting the company's growth, drawing on our significant experience through our technology-related and Nordic investments."
Since taking Visma private through a public offer in 2006, management has worked closely with HgCapital and subsequently KKR to grow the business both organically and through acquisitions. During this period, Visma has built an impressive track record of growth, based on continuous investment in employment and research and development. More than 75 bolt-on acquisitions were completed and total revenues grew from NOK 2 306m in 2006 to NOK 6 452m in 2013, a compound annual growth rate of 16%. EBITDA increased from NOK 305m in 2006 to NOK 1 325m in 2013, a compound annual growth rate of 23%. Furthermore, the number of employees increased from 2,512 to 5,648 during this period of high growth.
HgCapital, KKR and the management shareholders of Visma were advised on the sale by ABG Sundal Collier, Morgan Stanley, Schjødt, Simpson Thatcher and White and Case.
Visma is the leading provider of business management software and services in the Nordic region. The group comprises three divisions which are Visma Software SMB, Visma BPO, Visma Software GLA(Government & Large Accounts). As one of few suppliers to combine software and BPO services, Visma has been a Nordic and European consolidator as the products and services have become increasingly popular among the company’s more than 340,000 customers. Today, Visma is known for developing leading software solutions and high-quality services for satisfied customers in combination with financial strength and solid growth. The objective is to make the customers more efficient and competitive. Visma is headquartered in Oslo, Norway. The Visma Group is represented in Norway, Sweden, Denmark, Finland, the Netherlands, Romania, Lithuania and the UK. For further details, pls see www.visma.com.
HgCapital is a sector expert private equity investor, supporting management teams to grow industry champions. Deeply resourced sector teams focus on specific sub-sectors and investment themes to identify companies occupying an established market position, and which have the potential to grow faster than their market, create employment and become the leader in their industry. HgCapital’s dedicated portfolio management team provides practical support to management teams to help them realise their growth ambitions. HgCapital invests in expanding segments of the TMT, Services, Industrials, Healthcare and Renewable Energy sectors across Western Europe.
Based in London and Munich, HgCapital manages over £5 billion for some of the world’s leading institutional and private investors. For further details, please see www.hgcapital.com.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.
Cinven is a leading European private equity firm focused on building world-class Europe-focused companies. Its funds invest in six key sectors: Business Services, Financial Services, Healthcare, Industrials, Consumer and Technology Media and Telecommunications (TMT).
Cinven funds acquire companies with significant operations in Europe that require an equity investment of €100 million or more. Its European focus and expertise are complemented by an ability to capitalise on global growth opportunities through its Asian office. For more information, please visit www.cinven.com
Neither the contents of Visma’s, HgCapital’s, KKR’s nor Cinvens’s websites nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Aug. 29, 2016 02:15 AM EDT Reads: 1,816
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Aug. 29, 2016 01:45 AM EDT Reads: 2,174
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Aug. 29, 2016 01:15 AM EDT Reads: 3,008
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Aug. 29, 2016 12:00 AM EDT Reads: 1,889
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 28, 2016 10:30 PM EDT Reads: 4,060
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Aug. 28, 2016 06:30 PM EDT Reads: 1,635
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Aug. 28, 2016 06:00 PM EDT Reads: 1,948
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 28, 2016 03:00 PM EDT Reads: 769
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Aug. 28, 2016 01:45 PM EDT Reads: 3,690
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Aug. 28, 2016 01:00 PM EDT Reads: 2,447
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Aug. 28, 2016 11:30 AM EDT Reads: 1,989
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Aug. 28, 2016 11:00 AM EDT Reads: 3,159
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Aug. 28, 2016 11:00 AM EDT Reads: 741
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 28, 2016 10:45 AM EDT Reads: 891
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Aug. 27, 2016 08:45 PM EDT Reads: 2,411
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Aug. 27, 2016 12:45 PM EDT Reads: 2,392
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Aug. 27, 2016 02:30 AM EDT Reads: 2,072
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Aug. 25, 2016 05:15 PM EDT Reads: 898
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Aug. 25, 2016 01:00 PM EDT Reads: 2,712
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Aug. 25, 2016 08:45 AM EDT Reads: 2,232