Norwegian SaaS company Visma, which offers a suite of accounting, payroll, HR, and other business software products to more than 1.2 million SME customers across the Nordic, Benelux and Baltic regions has submitted a bid to acquire contract management platform House of Control. The offer values House of Control at €66.59 million.
According to a statement released by both companies, Visma will pay for the company in cash.
The Norwegian unicorn, hinting at an IPO in 2023, has been on an acquisition spree to bolster its market position. It acquired Belgium’s Teamleader recently in June.
Visma CEO Merete Hverven said: “We are already a satisfied customer and impressed by the unique expertise of House of Control’s employees and management. We would like to keep House of Control as a distinct operating entity within the Visma Group, linking it to the relevant entities within our own ecosystem – while maintaining the unique drive and culture of the company.”
House of Control delivers services within the so-called software as a service segment. The benefits are mainly aimed at companies’ finance departments.
Lasse Sten, CEO of House of Control, added: “House of Control’s mission is to keep CFOs in control, enabling them to cut costs, save time, reduce risk, and improve compliance. We have created great products that are used every day across the Nordics and being acquired by Visma is a testament to what our organisation has built.”