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10/2024100%

Visual Art Sweden acquired by Vertiseit

SWEDEN Software / MarTech EV SEK 300–700M

Context

Vertiseit acquired 100% of the outstanding shares in Visual Art. This transformative transaction significantly expands Vertiseit's global footprint, particularly in the Nordics, UK, and North America, while increasing its total Annual Recurring Revenue (ARR) by over 40% to SEK 254 million. A key component of the deal was the entry of Bonnier Capital as the new lead shareholder in Vertiseit, holding a 17.7% stake. Visual Art will continue to operate as an independent brand within the group, focusing on technical synergies between its Azure-based software and Vertiseit's IXM Grid back-end.

Visual Art Sweden, which reported an EBITDA margin of [members only] in 2023, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, standing directly in line with the average observed in the TMT (Tech, Media, Telecom) sector (16.1x in 2024).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Visual Art is a pioneer and leading global player in the Digital Signage and Retail Media industry. Founded in 1997, the company specializes in providing cloud-based software, consultancy, and concept design for digital in-store experiences. In 2024, the organization manages approximately 75,000 software licenses across 39 countries, maintaining a particularly strong presence in the Quick Service Restaurant (QSR), Convenience, and Grocery sectors. Its award-winning Azure-based technology platform serves marquee global clients such as McDonald’s, Subway, Lego, and 7-Eleven. With a workforce of 120 employees across eight countries, including a strategic office in Chicago, USA, the company has established itself as a critical partner for brands seeking to bridge the gap between digital communication and physical retail environments.

Ent. Value

SEK 300–700M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (SEK)

Year
Rev
EBITDA
EBIT
2023
SEK 250–500M
SEK 25–50M
[members only]
2022
SEK 250–500M
SEK 25–50M
[members only]

Other operations with Vertiseit

Other operations with Vertiseit
DateAcquirerTargetCountrySector
10/2024BONNIER CAPITALVERTISEITSWEDENMarTech

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REFERENCES

Valuation range: EV SEK 300–700M

Revenue range: SEK 250–500M

EBITDA range: SEK 25–50M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Visual Art Sweden by Vertiseit are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: visual art sweden

FAQ

What transaction does this page cover?

This page covers Vertiseit’s acquisition of 100% of Visual Art Sweden, a Swedish company specialised in MarTech, in 2024.

How was the acquisition of Visual Art Sweden by Vertiseit valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the SEK 300–700M band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Visual Art Sweden’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Visual Art Sweden generated annual revenue estimated in the SEK 250–500M range and EBITDA in the SEK 25–50M bracket (FY 2023). Detailed financial figures are available to members.

How does the valuation of Visual Art Sweden compare to benchmarks in the TMT (Tech, Media, Telecom) sector?

With an estimated multiple range of 10x - 18x, the transaction stands directly in line with historical averages for the TMT (Tech, Media, Telecom) sector (16.1x in 2024).

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.