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The software company Visma, a sponsor of Wout Van Aert’s cycling team, is valued at 10 billion euros in a new capital transaction.
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The investment companies TPG Capital and Warburg Pincus join the capital of Visma and acquire an interest of 3 and 5 percent respectively. This is reported by Het Financieele Dagblad.
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Visma is one of the two main sponsors of the Jumbo-Visma cycling team where Wout Van Aert is currently making the beautiful weather.
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The deal values Visma at 10 billion euros. That is almost three times more than in the previous investment round in 2014. The new investors paid almost 27 times last year’s gross operating income (EBITDA) for their investment. That is very high, but Visma is growing rapidly, both organically and through acquisitions.
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Cloud services
Visma focuses on cloud services, more specifically on software for accounting and administration for public authorities. The pandemic offers growth opportunities for cloud software due to the increasing importance of working from home.
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In the first six months of the year, turnover increased by almost 27 percent to 844 million euros. The net profit rose three quarters to 50 million euros.
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Visma is a Norwegian company, but over the years it has developed a larger position in the Netherlands than in its home country. In the Netherlands it already has a turnover of 350 million euros.
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Belgian takeover
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