Visma strengthens HR software offering in Spain with acquisition of tugesto
Adding payroll solutions to its product portfolio for Spanish companies.
Visma has acquired tugesto, a leading provider of cloud payroll and other essential business tools. Founded in Valencia in 2015, tugesto delivers the digital solutions companies need to run their business efficiently on a daily basis.
tugesto becomes Visma’s fifth software acquisition in Spain since first entering the country in 2021, and also marks the strategic addition of payroll solutions to its total offering in the Spanish market. Angels, Juan Roig's investment company, has sold its entire shareholding in tugesto as part of the transaction.
“We are delighted to announce that tugesto is joining the Visma family, further expanding our footprint in Spain and strengthening our total offering in this important growth market for the Group. Together, we can create even stronger HR solutions for customers who are ready to make the step to more modern, flexible and smart cloud software”, says Yvette Hoogewerf, Segment Director for Medium Business in Visma.
Setting the standard
tugesto will continue to operate as an independent company under the same name and management. Its mission remains to set the standard for digital transformation of companies and public administrations in Spain with a broad portfolio of HR solutions.
"We are thrilled to join Visma, one of the world’s leading software companies. This represents a unique opportunity to revolutionize business management together, especially in a market like payroll software, where there is still much to achieve and innovate in Spain. At tugesto, we remain as passionate as ever, now with the support and vision of one of the major players in our industry, reinforcing our commitment to delivering innovation, excellence, and solutions that truly make a difference in the daily operations of businesses”, says Manuel Fandos, CEO of tugesto.
“We are sure that the combined passion, innovation, knowledge and experience of this magnificent team will allow us to offer our customers market-leading solutions, enabling them to make the most of the technology that a software can offer”, says Lidón Serra, co-founder of tugesto.
For more information, please contact:
Lage Bøhren, Director of Communications at Visma, +47 921 578 01
Miguel García-Paredes, M&A Manager Visma Iberia, +34 685 154 803
Pilar Mañez, Director of Communications at tugesto, +34 686 643 629
About Visma
Visma is a leading provider of mission-critical cloud software, with revenue of € 2.4 billion in 2023, nearly 16,000 employees and 1.9 million customers across Europe and Latin America. By simplifying and automating the work of businesses and organisations of all sizes, we enable a more efficient and prosperous society. Visit us at visma.com.
About tugesto
tugesto is an innovative SaaS business management system based in Valencia, Spain. tugesto delivers all the solutions a company needs on a day-to-day basis, such as payroll, employee portal and invoicing.
