Euronext, a pan-European stock exchange, has signed a definitive agreement to acquire Admincontrol from Visma in a €398m all-cash transaction.
The acquisition is expected to strengthen Euronext’s governance and secure collaboration Software as a Service (SaaS) offerings, particularly in the Nordics and the UK.
The deal is part of Euronext’s “Innovate for Growth 2027” strategy, which aims to increase its share of subscription-based revenue streams. By integrating Admincontrol’s solutions, Euronext Corporate Solutions will expand its governance technology services and enhance its client acquisition and cross-selling opportunities.
Established in 2005, the Oslo-based Admincontrol provides governance tools for board and transaction management, serving over 4,000 organisations and 200,000 users.
The company reported €39m in revenue and €17m in EBITDA for the year ending 31 December 2024. Admincontrol’s offerings align with Euronext Corporate Solutions’ existing portfolio, providing an opportunity to scale its presence in governance technology.
Admincontrol CEO Møyfrid Øygard said: “The past eight years have been transformative for Admincontrol, and while Visma has been an invaluable partner for us, joining Euronext is the logical next step for Admincontrol to unlock further growth.
“Excellent governance is critical for the Euronext network of issuers and customers, and we are excited to bring our complementary product offering to market supporting Euronext Corporate Solutions’ business and its position in the Nordics.”
Euronext expects the return on capital employed (ROCE) from the acquisition to exceed the weighted average cost of capital (WACC) within three to five years.
Euronext Corporate Solutions, a subsidiary of Euronext Group, delivers governance, compliance, and investor relations technology to 5,000 organisations across 30 countries.
The integration of Admincontrol follows Euronext’s previous acquisitions in the Nordics, including Euronext Oslo Børs, Nord Pool, Insiderlog, Euronext Securities Copenhagen, and Euronext Securities Oslo.
Euronext CEO Stéphane Boujnah said: “This transaction will improve our share of subscription-based revenue. The acquisition of Admincontrol positions Euronext Corporate Solutions as a leader in the governance SaaS space and expands our access to new markets in the Nordics where we have already expanded our presence over the years with promising growth prospects.
“Euronext has all the tools and the relevant network to accelerate the growth of Admincontrol’s state-of-the-art governance solutions.”
Subject to regulatory approvals, the latest transaction is expected to close in Q2 2025.
