Visma acquires House of Control

Visma announces they acquire House of Control, a Viking Venture portfolio company. With Visma as the new owner, House of Control is strengthening its offerings through Visma’s expertise and unique position in the market.

As all the closing conditions are met, the transaction was completed today. The transaction agreement is a voluntary cash offer of NOK 11.20 per share for all outstanding shares. House of Control Group is now an independent operating entity within the Visma Group.

Highly complementary solutions

– House of Control delivers mission critical SaaS-solutions that are highly complementary to our existing offerings, and we are very excited about this opportunity to invite them into the Visma family. We are already a satisfied customer and impressed with the unique competence of its employees and management team, says CEO Merete Hverven upon launching the voluntary cash offer in late September. 

Leading supplier of business-critical SaaS solutions

– With this acquisition, we are linked to a stronger brand and become part of a company with rock-solid funding. Both elements are important for customers who value trust and predictability from suppliers of mission-critical software. A couple of weeks ago, we got a new customer who said that the Visma acquisition was a decisive reason why they signed with us, says Lasse Sten, CEO of House of Control.

– For more than 16 years, customer-driven innovation has been the basis for House of Control’s growth. We have built a strong brand as a leading supplier of business-critical SaaS solutions. Our achievements result from our employees’ hard work, satisfied customers as well as the commitment of our shareholders. With new owners on board, we are ready to continue this journey, continues Lasse.

Active ownership

– House of Control has become an indispensable part of everyday life for 2,700 CFOs throughout the Nordics. We would not have been able to do that without the active ownership of Viking Venture. Their good advice and sparring have been crucial reasons why our hard work has paid off so well. We have become more relevant to our customers and simultaneously experienced remarkable growth: Annual Recurring Revenue (ARR) has grown from MNOK 30 in 2015 to MNOK 215 million in 2022, concludes Lasse Sten.

Perfect fit 

– Since we invested in House of Control in 2015, it has been a great collaboration with the owners and management team. As an active owner, we have worked together to specialize sales processes and customer success. We have completed pricing projects, made several acquisitions, and listed the company on the stock exchange market. Now House of Control will continue its journey with Visma, a perfect industrial fit, says Jostein Vik, Partner at Viking Venture and Chairman of the Board at House of Control.

Header image: Lasse Sten, CEO of House of Control

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