Visma has developed a distinctive approach to mergers and acquisitions that contrasts sharply with conventional strategies often seen in the tech sector. Instead of fully integrating acquired companies into its operations, Visma preserves their independence, allowing founders to maintain control over day-to-day decisions. This model aims to balance risk minimization with sustained growth opportunities, providing an alternative to the dilution and uncertainty that venture capital funding can bring.
According to recent data, acquisitions in the European tech scene remain robust, with hundreds of startups changing hands annually. Notably, some venture-backed firms are now raising funds specifically to acquire other startups, pointing to a growing consolidation trend. Within this environment, Visma stands out by targeting early-stage companies with strong teams, innovative products, and high customer satisfaction—often before those companies become fully mature or profitable.
This shift reflects a strategic recalibration: buying younger, high-potential startups rather than established but possibly less adaptive firms. For example, when Visma acquired Holded, an accounting and payroll software company, the deal came shortly after Holded’s significant Series B funding round. Despite interest from multiple buyers, Holded's leadership found Visma’s model appealing because it preserved their operational latitude and aligned with their vision for the future.
Leaders within Visma emphasize that post-acquisition, founders benefit not just from independence but also from the support of a peer network that functions like a "club" of other founders. This ecosystem offers access to shared expertise and resources, helping startups scale without losing their entrepreneurial spirit. The company’s management believes this structure encourages founders to stay beyond earnout periods, fostering long-term collaboration rather than a simple exit transaction.
Visits with executives from Visma and acquired firms such as Holded and Nmbrs reveal that this acquisition philosophy is designed to unlock growth in a competitive market. By giving portfolio companies autonomy while providing strategic guidance and resources, Visma positions itself differently from firms that favor full absorption and operational control.
In an era where many founders view acquisition as a trade-off between financial gain and loss of control, Visma’s model offers a third path—one that retains founder influence, reduces risk, and leverages collective strength. This approach is reshaping how tech acquisitions can support innovation and sustainability within a rapidly evolving market.