Mission-critical business software provider Visma has announced that it has acquired Alavie, with the move supporting its expansion in Italy.
By acquiring Alavie, a provider of regulatory compliance software solutions for accounting practices and professional service firms, Visma intends to enhance its offerings in the country by providing a complementary range of regulatory software services tailored to the needs of accounting practices, notaries, and law firms. Alavie has solidified its presence in Italy, becoming one of the preferred choices for accounting offices. The company currently provides its services to a range of customers across the region.
Alavie’s offering for Italian accounting firms
Currently, Italy has a fragmented market of over 120,000 tax advisors and accountants, who serve more small and medium-sized enterprises (SMEs) than any other EU country. Verifying client identities is fundamental for accounting offices and professional service firms; however, the majority of them lack the scale to hold in-house KYC and AML compliance expertise, as well as access to digitally enabled tools.
Laegis AML, Alavie’s platform, focuses on automating manual compliance processes, monitoring client changes, and offering proactive alerts, in turn allowing professionals to maintain compliance without AML expertise in-house. Additionally, the company delivers GDPR privacy tools and is working on expanding into new verticals with Laegis Notary, a platform designed for notary offices, set to launch in 2025.
Supporting automation, compliance, and efficiency
The acquisition of Alavie will assist Visma’s broader strategy to design a comprehensive accounting and tax software offering in Italy. The company plans to provide mission-critical tools that facilitate automation, compliance, and operational efficiency.
Commenting on the move, representatives from Visma highlighted that the decision to acquire Alavie can be attributed to the company’s capabilities and execution within the regulatory software space. Its compliance expertise and commitments position it as an ideal partner as Visma strengthens its offering in Italy. Additionally, Visma plans to support Alavie’s continued growth and help more professionals navigate complex compliance requirements.
