Norwegian business software Goliath Visma has acquired iVISION, the company behind Legis 365, Denmark’s leading admin software for law firms. The financials of the deal remain undisclosed.
With close to 150 acquisitions on record, Visma is no stranger to M&A activity, however, the acquisition of Ivision marks the company’s first entry into the legaltech space.
Ivision’s Legis 365 software solution already integrates with a number of Visma’s offers including e-conomic (accounting services), Sproom, and Creditro (electronic invoicing services).
Founded in 1998, iVISION has traditionally focused on small to medium sized law firms, however Visma says that it intends to scale this offer to include larger industry players.
Visma’s Mikael Westöö shared:
"Leif Lindås and partners have created a healthy business with a modern and flexible solution that truly challenges the conventional systems on the market.
“This makes them a valuable addition to Visma's ecosystem, and we see great potential in greater utilisation of the synergies between Legis 365 and Visma's other mission-critical software solutions, for the benefit of both current and potential customers"
Founded in 1996 through the merger of Multisoft, SpecTec, and Dovre Information Systems, Visma is one of Europe’s largest privately held companies, with the majority of the organisation owned by London-based private equity firm HgCapital.
However, that might be changing.
A recent Sky News filing noted that Visma is in talks with the Belgian investor Groupe Bruxelles Lambert, and Mubadala, the Abu Dhabi sovereign wealth fund (amongst others) regarding a stake in the company that would see a valuation between €19 billion and €20 billion post-deal.