LONDON - The private equity firm Cinven said Monday that it had agreed to take a 31.3 percent stake in the Norwegian software company Visma, in a deal that values Visma at about $3.5 billion.
Cinven will be a co-investor with the private equity firms HgCapital and Kohlberg Kravis Roberts, with each firm holding a 31.3 percent stake in the company following the transaction.
“Visma represents a great opportunity to invest in a highly cash generative and stable business with strong organic and acquisitive growth prospects,†David Barker, a Cinven partner, said in a statement.
K.K.R. previously held a 76 percent stake in Visma, which it will reduce as part of the transaction. HgCapital will increase its stake from 16 percent.
Following the transaction, the company’s shareholders will also include the Nordic institutional investors Ilmarinen and Storebrand, along with Visma’s management.
The deal gives Visma a total enterprise value of 21 billion Norwegian kroner, or about $3.5 billion.
In 2013, Visma, based in Oslo, posted revenue of 6.5 billion kroner. The company employs more than 5,600 people in 12 countries in Northern Europe.
