Visma Group intends to acquire Raet

28 May 2018

Visma Group and Raet have signed an agreement whereby Visma intends to acquire 100 percent of the shares of Raet. The agreement is subject to the parties having completed the consultation procedures with both Raet's Dutch works council and Visma's Dutch works council, and the parties having informed the relevant Dutch trade unions of the intended transaction.

Raet and Visma Group combined will become one of Europe’s leading HR solutions providers, delivering software and services to more than 10 million end-users. Customers will benefit from the joint innovation capacity and agility to help make their business more efficient and develop their organization and people.

Raet is a highly strategic and complimentary choice for Visma, strengthening its presence in the Netherlands and Belgium, where Visma already provides bookkeeping, ERP, payroll and related cloud software. The combination will also substantially expand Visma’s addressable market and allow it to provide Raet’s existing customers with access to Visma’s leading suite of cloud software applications.

"The highly skilled workforce of Visma and Raet together form a strong international HRM environment. This strengthens our ability to continue providing new and existing customers with long-term sustainable solutions", Øystein Moan, CEO of Visma, says. "The acquisition leads to mutual added value and growth opportunities as Raet’s offering fits well with Visma’s HRM strategy", Moan continues.

"Raet joining Visma increases our world-class HR innovation and offering which will provide new opportunities for both our customers and employees", Kobe Verdonck, CEO of Raet, says. "By
joining Visma, Raet further strengthens its position in the Dutch market", Verdonck continues.

Details about the intended transaction will not be disclosed.

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