13 Feb 2017
ICON Corporate Finance, specialists in M&A for tech companies, has advised LogBuy on the sale of its Danish business to the Oslo based Nordic software giant Visma.
The sale of the Danish business to Visma follows on from the successful sale by ICON at the end of 2016 of Logbuy’s UK operations to UK’s employee benefits market leader Reward Gateway.
LogBuy’s Employee Engagement platform offers Reward & Recognition, Salary Sacrifice services, deals and discounts on over 10,000 brands, for over 650,000 employees of large organizations throughout Europe. Customers include Lego, Grundfos, McDonalds, Siemens, Motorola, Coloplast and Microsoft.
Logbuy is the market leader in Denmark.
Visma is a leading provider of business solutions, software and outsourcing in the Nordics, the company has over 40,000 customers and the purchase of LogBuy will enable the company to broaden their product portfolio to include staff benefits and the ability to offer companies operating in Scandinavia reduced costs for the purchase of various goods and services.
Alan Bristow, CEO of ICON Corporate Finance, who advised the management of LogBuy Denmark on the sale said: “We are delighted to have completed this second transaction within such a short period of time following on from the sale of the UK operations. To complete the sale to one of the leading business software companies in Northern Europe is once again testimony to the on-line business that Susanne and Lars Peter have created. We are delighted to have secured Visma as the acquirer for LogBuy. They are the perfect strategic fit as they seek to strengthen their market dominance in the Nordic Regions.”
Henrik Salwen, CEO of Visma said, “The acquisition is in line with our strategy to create a combined purchasing power in the Scandinavian market. We are happy and proud to have LogBuy as a part of Visma and to continue to build upon the good work of Lars Peter Busch and Susanne Laursen.”
Lars Peter Busch, Chairman of Logbuy Group said, " We are delighted with the outcome of the M&A process. ICON secured two market leaders in their respective territories and demonstrated their high level of professionalism, deal negotiating skills and tenacity throughout in achieving these two very good deals for the shareholders of Logbuy".