Acumatica Backed by KKR’s Visma

Visma, a software and services tax and accounting portfolio company of New York private equity firm Kohlberg Kravis Roberts & Co., will invest an unspecified amount of capital in Acumatica, the Bethesda, Maryland-based cloud services provider. Advisors on the deal were not publicized.

PRESS RELEASE:

Visma, a KKR portfolio company, Invests in Acumatica
Investment and distribution agreement to accelerate adoption of Acumatica’s Cloud accounting, ERP, and CRM software worldwide.

BETHESDA, Md., Sep 12, 2011 Acumatica, a provider of Cloud ERP software, today announced the close of a round of investment led by Visma, a portfolio company of an affiliate of Kohlberg Kravis Roberts & Co. In addition to the investment, Visma will help to accelerate Acumatica sales and partnership goals, through its own activities as a leading Nordic-based technology company that delivers accounting, tax, and payroll applications to hundreds of thousands of SMEs in the Nordic region and through its network. The investment will be used to help Acumatica expand its sales and marketing efforts, continue development of its leading technology platform, and secure its position as a leader in providing Cloud ERP software.
Unlike traditional software solutions, Acumatica allows clients to work from anywhere without complex client software so businesses can involve everybody while saving money on deployment and ongoing operational costs. Unlike SaaS-only providers, Acumatica allows customers to control the location of their data, the timing of upgrades, and ongoing software expenses.
“Acumatica is the only established Cloud ERP vendor with technology that gives customers the choice to deploy their software on-premise, hosted in a cloud datacenter, or purchased as a turnkey SaaS solution,” said Oystein Moan, CEO at Visma. “Our investment in Acumatica acknowledges their unique positioning within the market and our belief that Cloud technology will play a critical role in the future of ERP software. We will adapt Acumatica for the Nordic markets and distribute Acumatica to our tens of thousands of midsized customers in Norway, Sweden, Finland, Denmark, and The Netherlands.”
Acumatica’s software delivers a complete set of solutions to cover all mid-sized business needs. This includes advanced financial features that are integrated with inventory, sales orders, purchase orders, customer management, and many other modules. A flourishing community of third party developers utilizes Acumatica’s development platform to construct fully integrated modules for manufacturing, ecommerce, payroll, EDI, point of sales, and other vertical market solutions. Acumatica has hundreds of customers in several industries including key accounts in wholesale distribution, financial services, hospitality, manufacturing, not for profit, and professional services.
“This new round of financing is important because Visma will provide the resources to help establish Acumatica as the global leader in Cloud ERP software and introduce Acumatica to several new high-quality business partners through its network,” said Ezequiel Steiner, CEO of Acumatica. “A partner like Visma is a testament to our current business plan, our product roadmap, and the efforts of our channel partners as well as a vote of confidence in our ERP technology. This partnership enhances the credibility of Acumatica in the eyes of our customers.”
About Visma
Visma is the leading Nordic-based technology company that delivers mission-critical software and services, such as accounting, tax, and payroll applications, to over 300,000 SME customers in the Nordic region and the Netherlands. The group comprises five business areas which are Visma Software, Visma BPO, Visma Commerce Solutions, Visma Retail and Visma Projects & Consulting. For additional information, please visit Visma’s website at www.visma.com .
About Acumatica
Acumatica develops web-based ERP software that delivers the benefits of Cloud and SaaS without sacrificing customization, control, security, or speed. Acumatica can be deployed on premise, hosted at a datacenter, or run on a Cloud computing platform. Learn more about Acumatica’s Cloud ERP solution at www.acumatica.com .