Norwegian enterprise software provider Visma has acquired compliance software firm Alavie, marking the company’s second acquisition in the Italian market, FinTech Futures can exclusively reveal.
A company spokesperson confirmed to FinTech Futures that the transaction closed “earlier this month”, although declined to reveal the financial details of the deal.
The spokesperson says Alavie “will continue to operate as an independent company, maintaining its brand, management, organisation and high quality services to its customers, while also powered by the shared resources and expertise of the Visma ecosystem”.
Alavie, founded by CEO Vito Ziccardi in 1994, provides regulatory compliance software solutions for accounting offices and professional service firms. Its flagship platform, Laegis AML, automates approximately 95% of manual compliance processes, monitors client changes, and sends alerts when action is needed. The platform also includes GDPR privacy tools for data protection compliance.
The acquisition by Visma comes as Alavie is preparing to expand into new verticals with its latest solution, Laegis Notary, which offers a platform specially designed for notary offices, set to launch sometime later this year.
Visma, headquartered in Oslo, will use the purchase to expand its presence in Italy, where it’s said to service “thousands of customers” with cloud accounting, payroll, invoicing, and HR business software products.
Alavie is the company’s second acquisition in Italy, following a previous deal for Milan-based tax advisory platform Fiscozen, used to secure a market entry last year. The spokesperson tells FinTech Futures that the group aims to build “a comprehensive suite of solutions tailored for the Italian market which helps customers simplify and automate business critical processes like accounting, electronic invoicing and tax returns”.
As part of this strategy, Visma notably agreed to sell Admincontrol, a provider of Software-as-a-Service (SaaS) board management and transaction management solutions owned by the group since 2017, to stock exchange operator Euronext for €398 million in March.
Source: https://www.fintechfutures.com/
