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Björn Lundén acquires Dutch financial and ERP service provider

Björn Lundén acquires Dutch financial and ERP service provider

Björn Lundén, the Swedish accounting and financial administration software provider, has acquired Dutch accounting and ERP software provider KING Software.

The acquisition was backed by European software investor Main Capital Partners. KING Software was also majority owned by Main and has grown substantially under its ownership.

KING represents the third add-on acquisition for the Björn Lundén group since Main Capital Partners became a majority investor in July 2021. It acquired TimeKeeper in November 2021 and QLogic in February 2022. Both of these Swedish companies are active and prominent players in the sector for time, project and expense-based management.

KING Software represents Björn Lundén’s first move into the Benelux accounting and financial administration market.

The combined group will generate around €30m in mostly subscription revenues across about 40,000 clients.

In accounting and ERP software provision, KING has over 9,000 customers across accounting firms and SMEs, covering solutions for accounting, reporting, consolidation, tax administration, invoicing, collaboration, ERP and warehouse management. In addition, it is also able to cater to the wide and varying needs of SMEs based in different verticals, through its network of over 250 application programming interface (API) partners.

Wessel Ploegmakers, partner and head of Nordics activities at Main, said: “We see significant opportunities for the Björn Lundén group to continue its growth in both the Nordics as well as the Benelux through a combination of organic growth, driven by the group’s modern SaaS solutions, as well as through the continuation of an already successful buy-and-build strategy.

“The strategy will also include internationalisation and entrance into new markets, as well as the acquisitions of complementary solutions that will simplify administration for SMEs and accounting firms.”