It’s a game-changing move for the European digital signage industry: Vertiseit takes over Visual Art. The acquisition elevates Vertiseit’s SaaS turnover to €22.4 million, positioning the company as a new major player in the market.
Vertiseit is acquiring its Swedish competitor Visual Art. This merger combines the second and third largest companies in the digital signage market of the Nordics (see invidis Market Compass), forming a major European full-service company. This new company will offer three proprietary software platforms and generate a significant share of its revenue through SaaS sales. The purchase price for Visual Art is 457 million Swedish kronor, approximately 40.32 million euros.
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Visual Art to remain independent
Visual Art will remain an independent company within the Vertiseit Group. Headquartered in Stockholm, Visual Art has 120 employees across eight countries, including a branch in Hamburg. Its key clients include McDonald’s, Subway, Kesko, ICA, 7-Eleven, and Lego. Visual Art generates approximately EUR 6.62 million in annual recurring SaaS revenue (ARR) and manages around 75,000 software licenses in 39 countries. In 2023, the company reported a total revenue of about SEK 345 million, or EUR 30.44 million.
Strong complimentary customer base
Vertiseit, known for its Dise and Grassfish platforms, serves prominent brands such as Marks & Spencer, Lidl, Bosch, Vodafone, Volkswagen, Porsche, and BMW. By the end of the second quarter of 2024, Vertiseit’s ARR reached EUR 15.79 million, with annual organic growth exceeding 20 percent.
The acquisition strengthens Vertiseit’s presence in Europe, particularly in the Nordic countries, the UK, the DACH region, and Southern Europe. Additionally, the new group will expand into North America through Visual Art’s Chicago office. Together, the combined company will have around 270 employees.
Increase in recurring revenue
The annual ARR of the combined group will rise to EUR 22.41 million. This will support Vertiseit’s ambitious long-term goal to reach an ARR of SEK 1 billion ( EUR 88 million) by 2032 and become a leader in digital in-store solutions.
The acquisition was financed through a SEK 225 million loan from Nordea Bank and a share issue worth approximately SEK 250 million. The founders and former shareholders of Visual Art are investing around SEK 50 million in Vertiseit by converting part of the purchase price into shares. Financial investor Bonnier Capital is also involved and hereby becomes the new majority owner of Vertiseit.
The ambition: “a globally leading platform company”
Johan Lind, CEO of Vertiseit, says: “We are very proud and pleased to acquire Visual Art, a company with a strong brand and a fantastic team of competent employees who have significantly contributed to the development of our industry.” Above all, Lind sees considerable value in Visual Art’s software. “Their award-winning Azure-based platform can integrate with our back-end platform IXM Grid, thereby accelerating our development pace.” Together, Lind says, both companies aim to become “a globally leading platform company.”
Pontus Meijer, CEO of Visual Art, says: “Visual Art and Vertiseit share a common ambition to become world leaders in digital signage, enabling companies to reach their audience through seamless communication and transforming how the physical and digital worlds interact.” According to Meijer, Visual Art will continue its development within the Vertiseit Group with an increased focus on software and distribution via partners.
