Visma has acquired Penneo, as it considers its secure solutions offering to be highly complementary to its existing offerings. Leveraging Penneo's partnership strategy for international expansion, Visma will use its leading SaaS (Software as a Service, a cloud-hosted, third-party operated application software solution) product ecosystem to accelerate growth. In particular, this will be enabled by access to the Danish company's huge address book of over 3,000 companies, including the world's largest auditing firms.
Visma's position in the cloud software market is well established. In mid-December 2024, its CEO Merete Verven was crowned in the "Leaders 50" ranking, which rewards the world's most inspiring leaders.
Steffen Torp, Sales Director and Ecosystem Segment Manager at Visma, explained the significance of this acquisition perfectly. "With the acquisition of Penneo, we strengthen Visma's position as a leading provider of secure digital signature solutions, specifically tailored to the Nordic markets. Together, we are in a strong position to further develop our offering to accountants and improve their interactions with customers."
On November 29, 2024, Visma launched a voluntary takeover bid for all outstanding Penneo shares. This was accepted by over 90% of its shareholders. The Group then proceeded with a compulsory acquisition of the remaining Penneo shares, and withdrew all shares from trading on Nasdaq Copenhagen. Today, Visma has over 1.7 million customers in Europe and is valued at $19 billion. It hopes to achieve further growth by adding Penneo's strengths to its own.
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