Visma has acquired Agda, a Swedish software company specializing in solutions for Human Resource Management (HRM) and Payroll. Agda has become a large player in the payroll market in Sweden, generating approximately 525,000 pay-slips on a monthly basis corresponding to 25% market share. Visma already provides payroll software, and with the acquisition Visma will now generate 2.3 million pay slips each month, becoming the payroll market leader in the private market of Sweden.
Visma is based in Norway and has become a large business software supplier in the Nordics, and the company says the acquisition will help them deliver more quique services within payroll and BPO to customers in Sweden and other markets. Visma is far from being a startup these days, with 2011 revenue amounting to NOK 5 142 million (€680 million) with 340 000 customers in the Nordics.
“The acquisition of Agda also fuels additional competitiveness within our outsourcing services as it accelerates the ability to benefit from Visma’s best-practice and market leading solutions when offering services within payroll, HRM and outsourcing to its customers. Agda is a solid and well-positioned company and has become the leading payroll company in Sweden. Their large customer base, combined with Visma’s platform of corresponding services and solutions, fits well into our international payroll strategy” says Øystein Moan, CEO of Visma.
