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US fund buys Norwegian software firm Visma
OSLO (AFP) - US investment fund Kohlberg Kravis Roberts & Co (KKR) will buy 76.9 percent of Norwegian software company Visma for about 5.6 billion kroner (709 million euros, 954 million dollars), Visma said on its website.
The purchase from previous majority share-holder HgCapital "values Visma at an enterprise value of 11 billion kroner," the Norwegian company said.
HgCapital, which bought Visma in 2006, will retain 17.7 percent of the company's stock, while Visma management will increase its holdings in the company to 5.3 percent.
Visma, which claims to be northern Europe leading provider of business software and business processes for accounting and payroll, employs 4,050 people in Norway, Sweden, Denmark, Finland, the Netherlands, Romania and Britain.
The purchase from previous majority share-holder HgCapital "values Visma at an enterprise value of 11 billion kroner," the Norwegian company said.
HgCapital, which bought Visma in 2006, will retain 17.7 percent of the company's stock, while Visma management will increase its holdings in the company to 5.3 percent.
Visma, which claims to be northern Europe leading provider of business software and business processes for accounting and payroll, employs 4,050 people in Norway, Sweden, Denmark, Finland, the Netherlands, Romania and Britain.
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