Visma’s M&A Strategy: Valuation, Integration & Scaling Across Borders

Sindre Talleraas Holen, Head of M&A at Visma

In Part 2 of this global M&A masterclass, Sindre Holen pulls back the curtain on Visma’s deal execution strategy, valuation methodology, and post-close philosophy. Visma has quietly become one of the most disciplined and prolific acquirers in Europe and LATAM. How? Through extreme clarity on what they buy, why they buy it, and how they operate post-close.

Sindre and Kison dig into the nuance of buying software companies in different geographies, how Visma thinks about valuation (hint: rule of 40—and sometimes 50—matters), and why the company chooses to “onboard” rather than “integrate.” This episode is a candid, behind-the-scenes look at how to structure deals, manage cultural differences, and stay true to a scalable M&A playbook.

Things you will learn:

How Visma sets valuation ranges across different growth brackets and geographies
Rule of 40 vs. Rule of 50 and how it impacts multiples
Why Visma prefers local advisors over centralized consultants in new markets
Inside Visma’s onboarding vs. integration philosophy

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Sindre Talleraas Holen,

Sindre Talleraas Holen is the Head of M&A at Visma, where he has personally led or supported over 300 acquisitions across Europe and Latin America. With nearly two decades of hands-on dealmaking experience, Sindre began his journey at Visma as a graduate trainee—famously launching his M&A career by cold-emailing the CEO. Since then, he has helped shape Visma’s world-class M&A function from a two-person team into a globally distributed unit of 20+ experts. A passionate advocate for buyer-led strategy, local deal execution, and founder-friendly onboarding, Sindre is a master at scaling through M&A while maintaining cultural alignment and operational excellence.