Visma acquired Brainshare IT, creators of Saldeo SMART

Sectors: 
Technology, Media & Telcoms (TMT)
Deal description: 

Visma expands its geographic footprint and strengthens the Northern European leadership in cloud-based accounting solutions with the acquisition of Poland based BrainSHARE IT sp.z o.o. Their key product SaldeoSMART is a leading cloud solution for accounting practices and accounting departments of small and medium businesses. The acquisition supports Visma's strategy to deliver the best solutions to accountants and SMBs in Northern Europe. SaldeoSMART is an effective and accessible cloud-based tool for accounting practices and businesses with their own accounting department, facilitating secure document digitization and business process automation. SaldeoSMART offers modules for best-in-class OCR document recognition, document workflow, employee panel and invoicing. "SaldeoSMART will expand Visma's footprint in efficiency improvement for accounting practices in Northern Europe. We are excited to now also enter the Polish market, and expect to gain significant market share in this economy over the coming decade. Adding SaldeoSMART to the Visma group will increase value and create new opportunities for existing and new customers", says Steffen Torp, Division Director, Visma Software SMB. With this acquisition, Visma expands its geographic footprint in Poland from sales and support functions for its international products, to its first Polish product range. Visma will boost SaldeoSMART's value proposition by offering additional relevant products to its customers. "The performance and growth of SaldeoSMART during the past few years has been remarkable, and with the shared vision of making accounting processes simple and cloud-based, Visma is the perfect partner to take SaldeoSMART to the next level", says Krzysztof Wojtas, CEO of SaldeoSMART. SaldeoSMART has successfully demonstrated that it can grow its customer base with an extensive partner distribution network, with more than 1 500 accounting practices serving 55 000 companies on a modern cloud-based solution. SaldeoSMART, as part of the Visma group, will continue as an independent entity and brand, focused on delivering great products and top class customer service.

In 2019, Aventis Capital Sp. z o.o., member of Globalscope, the international M&A network, provided advisory services to Visma based in Norway in an M&A transaction with Brainshare IT Sp. z o.o., based in Poland. Please contact Aventis Capital Sp. z o.o. for more details.

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