Vertiseit AB (“Vertiseit”), a leader in Digital In-store and Retail Media solutions, has announced the acquisition of Visual Art Sweden AB (“Visual Art”), a prominent player in the digital signage industry. The acquisition, valued at SEK 457 million (approximately USD 41.7 million) on a debt- and cash-free basis, aims to strengthen Vertiseit’s presence in the European market while expanding its reach into North America. The transaction includes a combination of cash, newly issued B-shares, and warrants, making Visual Art an integral part of the Vertiseit group.
The acquisition involves Vertiseit purchasing all outstanding shares of Visual Art for SEK 457 million, structured through a mix of cash, newly issued shares, and warrants. The transaction is financed through a SEK 225 million (USD 20.5 million) loan from Nordea Bank and a directed share issue of approximately SEK 250 million (USD 22.8 million) aimed at Visual Art shareholders and Bonnier Capital AB, which becomes Vertiseit’s new principal owner.
Bonnier Capital will invest SEK 200 million (USD 18.2 million) in Vertiseit and hold a 17.7% stake following the completion of the deal, while reinvesting Visual Art shareholders will own around 4.1% of the total outstanding shares in the company. Shareholders controlling 52% of shares and 75% of votes in Vertiseit have committed to supporting the acquisition in an upcoming extraordinary general meeting.
The acquisition is expected to significantly boost Vertiseit’s annual recurring revenue (ARR), increasing from SEK 179 million (USD 16.3 million) to SEK 254 million (USD 23.1 million) on a pro forma basis. Visual Art’s strong market presence in the Quick Service Restaurant (QSR), Convenience, and Grocery sectors—with high-profile clients such as McDonald’s, Subway, and 7-Eleven—will enhance Vertiseit’s standing in key European regions, including the Nordics, the UK, and the DACH region, as well as accelerate its expansion into Southern Europe and the United States.
Visual Art will continue to operate under its brand as an independent entity within the Vertiseit group, maintaining a focus on software and partner-driven sales. Visual Art’s cloud-based digital signage platform, built on Azure, is highly compatible with Vertiseit’s existing In-store Experience Management (IXM) platform, potentially accelerating product innovation and integration.
Background on Visual Art and Vertiseit
Founded in 1997, Visual Art is a leading player in Digital Signage, operating with offices in Europe and the USA. The company manages over 75,000 software licenses across 39 countries and reported total revenues of SEK 345 million (USD 31 million) in 2023. It serves a wide array of international brands, including McDonald’s, Subway, Kesko, ICA, 7-Eleven, Circle K, Telia, Ocean Outdoor, Lego, Joe & the Juice, and NIO. The company has around 120 employees across eight countries, specializing in consultancy, concept design, and technology platforms.
Vertiseit, listed on Nasdaq First North Growth Market since 2019, offers In-store Experience Management (IXM) platforms and has experienced strong growth, achieving a compound annual growth rate (CAGR) of 53% in recurring SaaS revenue over the past decade. The acquisition positions Vertiseit as a dominant player in Digital In-store solutions, aiming to reach SEK 1 billion (USD 91.3 million) in ARR by 2032.
Johan Lind, CEO of Vertiseit, stated, “This acquisition aligns with our strategy to build a globally leading platform company within Digital In-store. Visual Art’s strong position in the QSR and Convenience segments, combined with its established brand and talented team, provides significant growth opportunities, particularly in North America and Southern Europe.”
Pontus Meijer, CEO of Visual Art, commented, “Joining Vertiseit enables us to further develop our software and sales strategies, while benefiting from Vertiseit’s broader platform capabilities. Together, we can create the future of digital customer experiences and drive our clients’ business objectives.”
The acquisition will enable Vertiseit to strengthen its competitive position in the Digital In-store market, enhancing its offerings and expanding its global reach, thereby positioning the company for long-term growth and innovation.
