And Visma added two more in the Netherlands this month. EBIDTA also boomed, reaching about $105.8 million, up 36.1 percent from last year's corresponding period. Net profit of approximately $17.1 million was down 24.7 percent from a year ago. Visma’s SMB division had revenue of roughly $361.8 million, an increase of 18 percent, while the Enterprise Division total soared 77 percent to about $463.7 million. Revenue for the Custom Solutions Division increased to roughly $82.3 million The company said annualized cloud revenue reached approximately $1.2 billion. Visma had been an investor in Acumatica, but ended that stake with the latter’s purchase this month by EQT Partners, which also owns IFS World, an accounting software vendor based in Sweden. Visma derives revenue from European companies as follows: Norway, 30 percent; Sweden, 21 percent; the Netherlands, 19 percent; Finland, 13 percent; Denmark, 12 percent; with other countries contributing 4 percent.
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M&A BUOYS VISMA Featured
Visma, a financial software company based in Norway, saw revenue for the second quarter ended June 30 jump to about $428.9 million, an increase of 43.6 percent over a year ago. The acquisition of four companies during the quarter contributed to the jump.
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