Norwegian software company Visma has brought in new investors via a share sale valuing the company at 19 billion euros ($21 billion) to help fund international expansion, the company said on Thursday.
Visma is bringing in around 20 new investors, including Altaroc, Jane Street and NYC Retirement System, through an equity investment worth more than 1 billion euros ($1.1 billion), it said.
The deal includes an additional 3 billion euros from existing shareholders including majority investor private equity firm Hg, alongside existing co-investors ICG, TPG and Visma management.
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As part of transaction, Hg will remain the majority shareholder in Visma, selling part of its stake from one of its older funds and reinvesting in the business from a newer fund, as previously reported.
Reuters reported in August that Visma was in discussions with undisclosed sovereign wealth funds from the Middle East and Asia, with a deal targeted for before the end of the year.
Enterprise resource planning (ERP) software deals have been among some of this year’s larger transactions. London-based Hg is also in advanced talks to sell UK peer Iris Software to Leonard Green & Partners for more than 3 billion pounds ($3.8 billion), according to a Bloomberg report.
Source: Reuters
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