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Visma, which keeps mopping up European software companies, turned in growth of 19.5 percent, for the year ended December 31. Norway-based Visma, which acquired 42 companies last year, has already purchased five companies this year.

The company had approximately $2.6 billion in revenue for 2021. Visma reported 80 percent of revenue now comes from cloud revenue and services.  Before-tax profit rose 81.3 percent to roughly $140.7 million for the most recently completed year. Visma’s primary markets are the Nordics and Benelux but it entered Austria and Spain through acquisitions last year. Purchases were in the broad business software market, not just ERP, including payroll, HR, e-commerce, planning and healthcare scheduling. One the few ERP plays the vendor picked up was Holdred, a cloud software company in Spain. Visma had a significant investment of undisclosed size in September and said it would like try an IPO nest year to secure a list on the Oslo, Norway, stock exchange. In 2020, Warburg Pincus and TPG, invested more than $12 billion in stock and debt, acquiring minority ownership. Visma’s revenue for the fourth quarter was about $640 million, up 18 percent from the prior year’s corresponding period. The company’s four core business areas all had double-digit growth in the last quarter of 2021. Nordic revenue rose 29.7 percent to about $367 million for the fourth quarter. Despite a COVID-19 full lockdown in Benelux, revenue there increased 15.2 percent to approximately $107.million.

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