Visma, Nordic’s leading provider of online IT systems in financial management, has acquired Danish online accounting program Dinero, reports Launched in 2012 by Martin Thorborg, Dinero currently has over 110 000 users, with approximately 30 employees and 2015 turnover of about 10 million SEK (1 million euro). The acquisition means Visma’s 100% takeover of Dinero, with the company’s current CEO, Martin Thorborg, and the team remaining intact.

“With Visma we at Dinero will get more muscle, and will have greater opportunities to develop our accounting program. It is important for me to emphasize that Dinero continues as an independent company with independent development of the entrepreneurial spirit which we first started the business with,” – shared Martin Thorborg in the company’s blog.

The financial details of the transaction were not disclosed. However, according to Martin Thorborg the number lays below what he has sold his previous venture Jubii, which was 100 million euro (744 milion DKK).

Dinero’s acquisition is a part of Visma’s strategy to cover the market for online accounting services for medium- and small-size companies. Back in 2015 they have acquired e-conomic, an online accounting program for medium-size companies.