Press release -
Visma welcomes CPPIB as new investor
Visma Group is delighted to announce today that it has welcomed the Canada Pension Plan Investment Board (CPPIB) as an investor in the company.
CPPIB is a large international, institutional investor, managing the funds of the Canada Pension Plan on behalf of its 20 million Canadian contributors and beneficiaries. The transaction, led by CPPIB and following a competitive sales process for a stake in the business, will see CPPIB invest in a part of the holding currently held by Hg, a specialist technology investor and majority shareholder in Visma.
Following the transaction, Visma will have backing from some of the world’s largest institutional and specialist technology investors alongside lead investor Hg, including Cinven, GIC, Intermediate Capital Group and Montagu. Together, Visma and its strong investor base will continue to reinforce Visma’s position as a leading SaaS business in Europe and one of the world’s most successful SaaS companies.
The terms of the transaction are not disclosed.
About Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits in the best interests of 20 million contributors and beneficiaries. In order to build a diversified portfolio, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2018, the CPP Fund totalled C$368.3 billion. For more information about CPPIB, please visit www.cppib.com or follow us on LinkedIn, Facebook or Twitter.
For more information, please contact:
Øystein Moan, Visma Group CEO, mobile: +47 92 08 00 00
Visma is a leading provider of mission-critical business software for a more efficient and resilient society. By simplifying and automating the work of companies and organisations of all sizes, we improve people's everyday lives. With 13,600 employees, 1,100,000 private and public sector customers across the Nordics, Benelux, Central and Eastern Europe and Latin America, and net revenue of €1,741 million in 2020, we are committed to making tomorrow better than today. Visit us at visma.com.