Net income reached approximately $15.4 million, up 68.8 percent. Visma said cloud software and services now comprises 78 percent of revenue. The company purchased 12 businesses during the quarter, including Holded which brought into Spain. First-half revenue reached approximately $1.2 billion, rise of 21.2 percent over the corresponding period a year ago. The results for the half brought Visma to about $1.82 billion in what it called annualized repeatable revenue. Nordic countries, the biggest segment of operations, comprised 75 percent of revenue, roughly $243 million for the second quarter, an increase of 23.3 percent. Benelux revenue rose 19.9 percent to roughly $94.6 million. The software company’s Custom Solutions business hit $124.7 million in quarterly revenue, rising 26.9 percent.
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VISMA REVS RISE 24.5 PERCENT Featured
Still on the M&A path, Norway-based Visma reported a 24.5-percent rise in revenue for the second quarter ended June 30. Revenue for the software company, which operates in the Nordic countries, Benelux, Romania, Spain and Latin America, hit roughly $641.2 million for the most recently ended period.