Friday, September 29, 2023

GA_P, Garrigues advise on Visma´s acquisition of Woffu

Gómez -Acebo & Pombo has advised the Norwegian giant Visma, specialised in software services, on its third acquisition in Spain, after Holded and Declarando, purchasing Woffu, who was advised by Garrigues


After the purchase of the startup “Declarando”, in less than a week, the group has also taken over the Barcelona-based time and attendance company Woffu.

The acquisition is Visma’s third in Spain, after Holded and Declarando, and bolsters its offering of cloud-based time optimisation software in the Spanish market. Based in Barcelona, Woffu was founded in 2015 by Miguel Fresneda and Víctor Pérez, and now has 55 employees and nearly 1,500 clients. 130,000 employees use Woffu’s solution to optimise their time, request vacations, manage absences and comply with time control regulations.

Joining Visma will give Woffu a number of benefits that will allow it to meet customer needs even better than before. Woffu will maintain its leadership and culture while benefiting from Visma’s international network, expertise, and complementary products.

“We are proud to join Visma and thus start a new phase full of enthusiasm and commitment,” said Miguel Fresneda, CEO of Woffu. “With the help of Visma we are convinced we can deliver on our ambitious business plan. The opportunities are huge thanks to Visma’s know-how and the resources at our disposal in its Group.”

Fresneda continued: “Visma brings tremendous value to its group of companies and we are excited for the enormous opportunities ahead. This union will add value to society and make life easier for SMBs.”

“Woffu will be an excellent addition to the Visma family,” said Ari-Pekka Salovaara, Visma’s Segment Director for SMB. “Their solution is used by over 100,000 employees to complete business-critical HR tasks, making it an essential component of Visma’s offering in Spain. We look forward to learning a lot from Woffu while sharing our knowledge and resources to make this partnership bloom.”

Woffu will continue operating as an independent company under the same name, roof, and set-up as today.

GA_P’s team advising Visma was led by partner Alex Pujol and counted on associate Mónica Martells on the transaction.

Garrigues advised Woffu with a Barcelona office team formed by partner Laura Muñoz and senior associate Tania Targas.

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