Visma launched a voluntary cash offer for all outstanding shares of Penneo on 29 November 2024, which was accepted by more than 90% of its shareholders. The Group has subsequently carried out a compulsory acquisition of remaining Penneo shares, and delisted all shares from trading on Nasdaq Copenhagen.
Visma sees Penneo’s offering of secure, market leading solutions as highly complementary to its existing offerings. Building on Penneo's partner strategy for international expansion, Visma will utilize its ecosystem of leading SaaS products to accelerate further growth.
“With the acquisition of Penneo, we strengthen Visma’s position as a leading provider of secure, digital signing solutions, which are specially adapted to the Nordic markets. Together, we are in a strong position to further develop our offering to accountants, and improve their interactions with clients”, says Steffen Torp, Chief Commercial Officer and Segment Director for Ecosystem at Visma.
Christian Stendevad, Managing Director of Penneo, believes that there is a strong strategic alignment between Penneo and Visma, as both companies serve the audit and bookkeeping industry in Europe.
“With Visma's support, we are even more confident of achieving our goal to become a preferred software supplier for the audit industry across Europe”, says Stendevad.
For additional information, please see Visma’s press release from the announcement of the offer on 29 November 2024.
For more information, please contact:
Lage Bøhren, Director of Communication at Visma, Telephone: +47 92 15 78 01
lage.bohren@visma.com
About Visma
Visma is a leading provider of mission-critical cloud software, with revenue of € 2.4 billion in 2023, nearly 16,000 employees and 2 million customers across Europe and Latin America. By simplifying and automating the work of businesses and organisations of all sizes, we enable a more efficient and prosperous society. Visit us at visma.com.
About Penneo
Penneo delivers SaaS solutions for digital signing and Know Your Customer (KYC) workflows that streamlines critical business processes for B2B companies. Founded in Copenhagen and operating throughout Europe, Penneo is fast becoming the go-to platform for companies looking to save time on administrative tasks while ensuring complete regulatory compliance and peace of mind for themselves and their clients. Penneo is already trusted by +3,000 companies - including the world’s leading auditors. For more information about Penneo, visit penneo.com
