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VISMA REVS UP 17.9 PERCENT Featured

Visma, which continues to mop up small European software companies, turned in a 69.8-percent increase in profit on a 17.9-percent rise in revenue for the first quarter ended March 31.

The Norway-based company reported this week net income of about $45.2 million on revenue of approximately $608.8 million. It said SaaS and related revenue now comprise about 81 percent of the total with SaaS  subscription and transaction revenues rising 27 percent. Visma Nordics, the company’s largest operating unit, reported revenue of roughly $348.1 million, a year-over-year 19-percent rise, the steepest of any of its operations. Benelux revenue reached approximately $100.1 million, growing 17.6 percent over last year’s corresponding period. Revenue for Visma Custom Solutions was about $112.3 million, up 13 percent. During the quarter, the company acquired 15 companies with Argentina-based Calipso the only one based outside of Europe.

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