Visma said 79-percent of revenue is now from cloud software and related services. In addition, the Norway-based organization said subscriptions and transaction revenue grew 30.4 percent to about $334.1 million for the most recently ended quarter. Net income for the most recently ended period was about $43.2 million while revenue for the quarter was approximately $590 million. The largest-portion of Visma’s busines, the Nordic, produced roughly $338 million in revenue, up 16.4 percent year-over-year. The Benelux countries contributed $105 million, a 21-percent rise while Custom software operations produced about $102 million in revenue, a 13.8-percent increase. Visma completed the acquisition of six companies during the quarter, bringing the total to 26 for the year-to-date.
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SUBS/CLOUD DRIVE VISMA RESULTS Featured
Visma, which continues to buy financial software companies at a rapid pace, reported a 48.4-percent increase in after-tax income on a 17.9-percent rise in revenue for the third quarter ended September 30.
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