Visma enters France through acquisition of cloud accounting software company Inqom

Visma, one of Europe’s leading providers of mission critical software, has signed an agreement to acquire Paris-based Inqom.

Inqom offers software that automates accounting processes through artificial intelligence, and employs a team of close to 100 professionals.

A successful transaction will constitute Visma’s first market entry into France, expanding the company’s presence to 29 countries across Europe and Latin America.

“We are thrilled to announce our arrival in the French market by investing in Inqom. Like Visma, they develop unique technology to help customers become more efficient and competitive. With this acquisition, we are pressing on with our ambitious growth strategy both in existing and new markets”, says Merete Hverven, CEO of Visma.

Major growth potential in France

Expanding from its Nordic base, Visma has grown to become one of Europe’s largest providers of cloud-delivered software as a service (SaaS) to the private and public sectors, focusing particularly on Accounting ERP, HRM and eGovernment software.

European tech entrepreneurs, with vital and innovative cloud solutions, increasingly see Visma as the preferred partner to take their businesses to the next level.

“The industrial backing of Visma will open up new and significant market opportunities, and we see major growth potential in France going forward. Accounting firms are under increasing pressure to automate complex and time-consuming processes, both to attract new talent and keep up with rising demands from their own clients. We have the tools that can help them”, says Romain Passilly, CEO of Inqom.

Inqom’s current management team will remain in place, and the company will continue to develop and market its products under the same brand, in line with Visma’s autonomous governance model.

Visma reported record revenue and EBITDA of 2.1 billion and 590 million euros respectively in 2021. Inqom becomes Visma’s 31st acquisition so far in 2022, compared to 42 in total in 2021.