Through the acquisition of the leading provider of finance software to German municipalities, Visma will be able to both offer a larger service portfolio to German customers and ensure the transition to the cloud.
H&H has established itself as one of the top 3 providers of financial software for municipalities in Germany. The Berlin-based company has been developing software solutions since 1991. With its main product proDoppik, H&H offers a comprehensive commercial ERP solution for areas ranging from accounting, invoicing, budget preparation and tax collection to the management of fixed assets and financial investments. More than 150 employees at H&H and its subsidiaries serve more than 800 public administrations.
The shareholders of H&H have taken on an investor, Visma, to be able to offer municipalities in Germany both a larger service portfolio in the future and to ensure the transition to the cloud. Visma is Europe’s leading provider of mission-critical cloud software for SMEs (small and medium-sized enterprises) and offers software solutions for the public sector.
In the transaction process led by Proventis Partners as M&A advisor, a majority stake in H&H was sold as part of a share deal; a minority stake remains with the two managing directors, who will continue to drive the company’s growth. The company will remain independent after the sale, though will be able to access Visma’s software infrastructure in many areas, such as cyber security or cloud conversion.