Visma enters the legal tech market with the acquisition of iVISION, a company that focuses on making work easy and efficient in law firms and legal departments.
Founded by Leif Lindås in 1998, iVISION provides comprehensive, intuitive, and user-friendly IT solutions for Danish lawyers. Its cloud-based administration system Legis 365 streamlines the work of more than 300 Danish law firms.
Visma enters legal tech market with acquisition of iVISION, a company that focuses on making work easy and efficient in law firms and legal departments.
Founded by Leif Lindås in 1998, iVISION provides comprehensive, intuitive, and user-friendly IT solutions for Danish lawyers. Its cloud-based administration system Legis 365 streamlines the work of more than 300 Danish law firms by bringing together client and case management, e-mail integration, document management, time registration and invoicing in one cloud-based solution.
For Visma, Europe’s leading provider of mission-critical software, the acquisition also marks the Group’s first entry into the legal tech market.
Legis 365 already allows integration to other Visma software solutions like e-conomic (accounting), Sproom and Creditro (electronic invoicing), which automates companies' processes to combat money laundering and fraud.
"We are very excited to welcome iVISION to Visma. Leif Lindås and partners have created a healthy business with a modern and flexible solution that truly challenges the conventional systems on the market. This makes them a valuable addition to Visma's ecosystem, and we see great potential in greater utilization of the synergies between Legis 365 and Visma's other mission-critical software solutions, for the benefit of both current and potential customers", says Mikael Westöö, Business Area Director at Visma.
Until now, iVISION has focused on small and medium-sized law firms. With the experience and resources of Visma behind it, there is great potential for growth by looking towards the industry's larger players, as well as other types of project-oriented companies and consulting houses in other industries.
“Over the years, we have helped many small law firms on their digitization journey, away from paper-filled offices and into the cloud. Now we are ready for the next step together with Visma, where we look forward to developing our solution and further strengthening our collaboration with both e-conomic and Creditro” says Jesper Byskov, partner in iVISION.
Visma is a leading provider of mission-critical cloud software, with revenue of € 2.06 billion in 2022, 15,000 employees and 1.6 million customers across Europe and Latin America. By simplifying and automating the work of businesses and organisations of all sizes, we enable a more efficient and prosperous society.
After several actors had approached the owners directly with a view to a possible takeover, IMAP Denmark was engaged to facilitate and lead the auction and negotiation process. With both attractive terms and strong commercial synergies, Visma proved to be the best choice. The acquisition of iVISION expands Visma's overall offering and is thus perfectly in line with the ambition to be Northern Europe's leading SaaS provider in the SME and Public segment.
IMAP Denmark (DealHaus) advised the sellers throughout the process.