Financial software maker AuditBoard to be acquired by Hg Capital for $3B+
Summary
AuditBoard Inc., the developer of a software platform that helps enterprises ensure their financial reports are accurate, will be acquired by Hg Capital for over $3 billion. Citing sources familiar with the matter, Axios reported today that AuditBoard had previously rejected multiple takeover bids and was preparing to go public in 2025 or 2026. It’s the controlling shareholder of Visma, a Norwegian provider of accounting and human resources applications that received a $21 billion valuation last year. This is a piece of legislation that outlines what steps a publicly-traded company must take to ensure the financial data it shares with investors is accurate. “This acquisition represents a realization of not only our vision, but validates how taking a customer and practitioner-centric approach is the right way to develop technology that users will be passionate about.” AuditBoard detailed this week that its platform is used by more than 2,000 companies, including nearly half of the Fortune 500.
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