Visma buys House of Control Group. What does it mean for customers, for the future, for employees - and in the short and long term? Why does House of Control fit into Visma?
We had a chat with founder and CEO Lasse Sten.
What does this mean for House of Control's nearly 3,000 customers?
With this acquisition, we are linked to a stronger brand, and we become part of a company with a rock-solid funding. Both parts are important for customers who value trust and predictability from suppliers of mission-critical software. A couple of weeks ago, we actually got a new customer who said that the Visma acquisition was a decisive reason why they signed with us.
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 are the result of the hard work of our employees, satisfied customers as well as the commitment of our shareholders. With new owners on board, we are ready to continue this journey.
Why does House of Control fit into the Visma family?
During 2022, we carried out a thorough strategic process, and in this Visma proved that they were the most attractive owner to buy House of Control. They have a unique position in the market, based on experience and expertise that will strengthen us.
An important part of Visma's strategy has always been business-critical software, not least within compliance. They have been following us for a long time and seen how we are able to succeed the same markets. Visma thus sees the acquisition as a strategic opportunity to expand their overall strategy.
What does the acquisition mean for House of Control employees?
We will become an independent company in the Visma group. There is every reason to believe that we will become a more attractive workplace when we are part of the Visma family. It is a quality stamp for House of Control as a workplace, which makes us more visible in the labor market and signals security.
Visma's bid values House of Control Group significantly higher than the share price was on the stock exchange. Being acquired by Visma is a solid confirmation of what our organization has built and achieved over the course of 16 years. We now look forward to the opportunity to continue our growth in the Visma family.
The world economy seems uncertain, what does that mean for the demand for House of Control's solutions?
CFOs and finance teams are clearly facing challenging times. How should CFOs prepare to be at their best when circumstances suddenly require them to act quickly and decisively?
We believe that CFOs and finance teams can make a big difference in the months and years ahead. But success depends on several prerequisites: Control over costs such as contracts and future cash flow. Knowing what obligations lie ahead of you. The ability to renegotiate or cancel contracts. Having the right tools to keep forecasts up to date. And not least, they must have the ability to handle all this even when key personnel leave the company.
Through turbulent economic times during the last 16 years, we have seen that such circumstances make our solutions more attractive in the market. As part of the Visma family, we have every reason to be optimistic - both in the short and long term.