Rewriting the M&A playbook: Inside Visma’s acquisition strategy

2026-05-29 · Source: Sifted · Field: Business & Management — Corporate Strategy & Leadership, Entrepreneurship & Start-ups, Operations & Process Management · Depth: Intermediate, medium

Summary

European software company Visma is redefining its M&A strategy by acquiring early-stage tech startups and granting them significant operational freedom, rather than full integration. This approach allows acquired companies to scale independently, offering founders a de-risked alternative to VC funding while preserving future upsides through earnouts. Between May 2025 and May 2026, 753 European startups were acquired, indicating a robust M&A landscape. Visma, which previously focused on profitable, mature companies, now targets "future winners" with strong teams, promising products, and high customer satisfaction earlier in their lifecycle. Post-acquisition, companies like Holded (acquired 2021) and Nmbrs (acquired 2020) retain their management and processes, gaining access to shared resources, expertise, and a peer network of other founders. This model fosters cross-company collaboration, mentorship, and internal competition, encouraging founders to stay beyond their earnouts.

Key takeaway

For entrepreneurs considering an acquisition, Visma's model demonstrates that selling your company doesn't necessitate losing operational control or future upside. You should seek acquirers who prioritize independence, offer a peer network, and provide shared resources to accelerate growth. This approach can de-risk your venture more effectively than traditional VC funding, allowing you to retain influence and benefit from a supportive ecosystem while scaling your business.

Key insights

Visma's M&A model empowers acquired startups with operational freedom and peer support, fostering independent growth and founder retention.

Principles

• Operational freedom drives post-acquisition growth.
• Early-stage "future winners" offer greater potential.
• Peer networks enhance founder retention and learning.

Method

Visma identifies early-stage tech startups with strong teams and products, acquires them, and provides shared resources and a founder-led board while maintaining operational independence.

In practice

• Retain existing management and CRMs post-acquisition.
• Facilitate cross-company collaboration via standard tools.
• Curate boards with experienced portfolio founders.

Topics

• M&A Strategy
• Startup Acquisition
• Visma
• Operational Autonomy
• Founder Retention
• European Tech

Best for: Investor, Entrepreneur, Executive, Consultant

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Editorial summary, takeaway, and curation by AIssential. Original article published by Sifted.