Visma, a supplier of different efficiency increasing solutions in the Nordics, has acquired the Finnish CRM and project management services company Severa Oyj. Severa has been a rising star in the Finnish software scene in the recent years with its SaaS-type service for companies. Last year, Severa made around 225 000 euros in profit with almost 1.8 million euro turnover. In 2005 their turnover was just under 200 000 euros. With growth like this, it is bound to arise interest in larger companies in the sector.

Visma, from Norway, has around 4100 employees and generated revenues of 3381 million NOK in 2009 (around 427 million euros). Visma offers outsourcing services to companies in the form of accounting, HR-services as well as software services mainly in the areas of accounting and management services.

– Visma is the leading supplier of Business Software, as well as business process outsourcing across Nordic. Our goal is to strengthen our product portfolio and complement our expertise in the Software as a Service field. This acquisition is one of the steps in our strategy implementation. We have strong ERP skills, which we can now develop further together with Severa. Severa’s Internet based PSA solution together with our ERPs and other Internet based services will prove very valuable to our customers, explains Bjørn Ingier, Division Director of Visma Software.

– We are looking forward to being a part of the Visma family. We are confident that our collaboration will provide interesting possibilities for both existing and new customers. We are now a part of the largest software company based in the Nordic region. With Visma’s market presence, partner network and customer base our growth will be even faster, says Ari-Pekka Salovaara, the CEO of Severa Oyj.

It is great to see Severa acquired by such a strong player in the Nordics. It means that they were seen as strong company in this sector as well as a potential future competitor. Secondly, it is a great event for all the startups to remind them of a somewhat quiet M&A activity still takes place. Severa has been also part of our ArcticEvenings and a personal favorite of mine in the recent years – it was merely a question of time an acquisition would take place.