March 14, 2016 - Assignment

Visma announces a recommended public takeover offer to the shareholders of Fortnox

Visma, a leading provider of business software, outsourcing services and services for accounting and administration in the Nordics, has announced a recommended public takeover offer to the shareholders of Fortnox.

With approximately 115,000 customers, Fortnox is a leading provider of accounting and financial systems for small and medium-sized companies, associations, schools and accounting firms. Fortnox offers a full range of programs including accounting, billing, sales support, time tracking and payroll. Fortnox also offer a number of add-on services such as e-invoicing, invoice interpretation and credit information. Fortnox was founded in 2001, is headquartered in Växjö with 139 employees. Its Shares are traded on the NGM Nordic MTF under the abbreviation FNOX.

The total value of the bid is approximately SEK 1,406 million.

The Board of Fortnox has retained Mannheimer Swartling as legal advisor with regard to the offer. The firm’s team consists of Eva Hägg, Patrik Marcelius, Magnus Olsson, Klara Wessman, Johan Carle and Sofia Thelin.