Norwegian business software Goliath Visma has bought iVISION, the company behind Legis 365, Denmark’s leading admin software for law firms. The financial terms of the deal remain undisclosed.
With close to 150 acquisitions on record, Visma is no stranger to M&A activity, but the acquisition of Ivision marks the company’s first entry into the legaltech space.
Ivision’s Legis 365 software solution already integrates with a number of Visma’s offerings, including e-conomic (accounting services), Sproom and Creditro (electronic invoicing services).
Founded in 1998, iVISION has traditionally focused on small to medium-sized law firms, but Visma says it intends to scale this offering to include larger industry players.
Visma’s Mikael Westöö shared:
“Leif Lindås and partners have created a healthy business with a modern and flexible solution that really challenges the conventional systems on the market.
“This makes them a valuable addition to Visma’s ecosystem, and we see great potential in leveraging the synergies between Legis 365 and Visma’s other mission-critical software solutions, to the benefit of both current and potential customers.”
Founded in 1996 through the merger of Multisoft, SpecTec and Dovre Information Systems, Visma is one of Europe’s largest privately held companies, with the majority of the organization owned by the London-based private equity firm HgCapital.
However, that may be about to change.
A recent Sky News filing noted that Visma is in talks with Belgian investor Groupe Bruxelles Lambert and Mubadala, Abu Dhabi’s sovereign wealth fund (among others) for a stake in the company that would see a valuation between €19 billion and €20 billion. billion by agreement.