Severa’s Acquisition Was a Great Success – Let’s Dig up a Few Facts

By Artur Surov on 23 Aug, 2010 15:17 |

As we reported in our earlier post today, Severa Plc (now Visma Severa Ltd) was acquired by a Norwegian ERP-provider Visma Ltd. Now, we would like to offer a few glimpses into the background of the company, which could illuminate the path that this start-up from Lappeenranta has trodden.

Severa Plc was founded on 30.12.2003 in Lappeenranta, Finland. Severa's current CEO, Ari-Pekka Salovaara, founded the company with Jari Kärkkäinen, the company's current CTO. Both founders were students at the time at Lappeenranta University of Technology.

The company has experienced very rapid growth in the recent years. It's cumulative growth over the past five years has been 1,500%. It also has maintained a strong 17% operational profit.

With a stellar product and a fast-paced growth, the company attracted lots of international acclaim. Red Herring listed the company as Global and European winner in 2008. In 2009, Deloitte ranked Severa as number 4 on its annual Fast 50 list.

Some of the sales success may be explained by the utilization of social media. Severa has over 34,000 followers on Twitter and says that it was key strategic decision to start furthering the sales using this channel.

The company has been active in utilizing Finland's public financing to support their growth in Finland and in international markets. The company has received Tekes financing in 2005 4,000€, in 2008 123,000€ and in 2009 455,000€. In 2008, the company was selected as one of the NIY-companies (Young Innovative Companies) by Tekes as well as Born Global company.

With the acquisition, Severa is excited about the growth potential due to the army of sales people that Visma has. Salovaara says that they have had five sales people up until today – Visma has 1,100. So it's clear that their product is bound to get a boost.

Technopolis Online wishes Severa Godspeed for the future and may this success give hope to other Finnish high tech companies for striving to high ambitions.

Note: Very early in the company's life cycle Severa contacted Technopolis and became at first our pre-incubation client and later an actual incubation client. They were also located in Technopolis premises.

Location: Lappeenranta, FinlandWebsite: http://severa.visma.comVisma Severa is a leading professional service automation vendor in the Nordics. Visma Severa has 700 customers in Finland, Sweden and Norway. The company also has customers and end-users in dozens of different countries.

Severa was founded in 2004 and was acquired by the Norwegian Visma Group in 2010. During these years the company and its product have won many awards including the Red Herring Global contest in 2008. Visma Severa has been two years in a row one of the fastest growing technology companies in Europe (Deloitte EMEA Fast).

Visma, the parent company, is the leading provider of business software and services for accounting and administration. As one of few suppliers yet to combine software and BPO, Visma has been a Nordic and European consolidator as the products and services have become increasingly popular among the company’s more than 320 000 customers.
Source: Various Sources
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