Visma has signed an agreement to buy Inqom, a French software company that automates accounting processes using artificial intelligence.
A successful transaction simultaneously marks Visma’s entry into the French market and an expansion of the company’s presence to now 29 countries in Europe and Latin America.
This strengthens Visma’s position as one of Europe’s leading suppliers of business-critical software.
“We are pleased to announce our investment in Inqom and entry into the French market. Like Visma, Inqom develops unique technology that helps customers become more efficient and competitive. With the acquisition, we are continuing our ambitious growth plans in both existing and new markets,” says Merete Hverven, CEO of Visma.
Great growth opportunities in France
From a Nordic base, Visma has grown over the past decades to today be one of Europe’s largest providers of cloud software for the private and public sector, primarily with a focus on financial management (ERP), HRM and eGovernment.
European tech entrepreneurs and entrepreneurs behind the development of innovative cloud solutions increasingly see Visma as the preferred partner to take their business to the next level. As a member of the Visma family, Inqom can benefit from the group’s international organization and infrastructure in areas such as IT security, HR and marketing to support the company’s further growth and development.
“Having Visma behind us will open up new and significant market opportunities for Inqom, and we see great growth potential in France going forward. Audit firms are increasingly facing demands to automate complex and time-consuming processes, both in order to attract talent and to continue to meet clients’ needs and expectations. We have the solutions that can help them,” says Romain Passilly, CEO of Inqom.
Inqom’s current management team will be retained and the company will continue to develop and market its products under the same brand in line with Visma’s unique model, which gives the companies in the Visma family full autonomy and control.
Visma presented record revenue and EBITDA of 2.1 billion euros and 590 million euros respectively in 2021. Inqom is Visma’s 31st acquisition so far in 2022 compared to a total of 42 companies in 2021.
Source: IT-Kanalen by it-kanalen.dk.
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