Visma Makes Foray Into Brazil With $300 Million Acquisition (1)

Hg-backed software company Visma is expanding into Brazil by acquiring Conta Azul, a cloud-based financial management platform for small and medium-sized businesses.

The deal adds to Visma’s footprint in Latin America with existing operations in Argentina, Chile, Colombia, Mexico and Peru, according to a statement Friday that confirmed an earlier Bloomberg News report. Visma is paying about $300 million for Conta Azul, people familiar with the matter have said.

Visma was founded in 1996 and previously traded in Oslo, before Hg took it private in 2006. The company sells software to small and medium-sized businesses and has 2.1 million ...