English Swedish
Published: 2015-07-02 13:00:00 CEST
Vitec Software Group AB
Company Announcement

Vitec acquires Infoeasy AS in Norway

Vitec Software Group AB (publ) has on July 2 agreed to acquire 100 % of the Norwegian software company Infoeasy AS, whose product is an industry-specific software for the Norwegian automotive industry. Sales for the financial year 2014 were 21,8 million NOK with approximately 50 % recurring revenue and EBITDA of 1,9 million NOK. Payment is cash 15,4 million NOK, of which 5.4 million NOK is compensation, NOK for NOK, for the excess liquidity. The acquisition is expected to directly result in increased earnings per share of Vitec. Consolidation takes place from July 1.

UMEÅ, SWEDEN, 2015-07-02 13:00 CEST --  

The business was built up during the 80's and has since delivered industry-specific software to the Norwegian market. By the acquisition Vitec strengthens its position as a long-term and resourceful Nordic provider of industry-specific business. The acquisition adds Vitec Group 17 new employees.
 

For further information please feel free to contact;
Lars Stenlund, CEO, Vitec Software Group AB (publ), tel. +46 70 659 49 39
Svein Ludvigsen, CEO, Infoeasy AS, tel. +47 932 30 920
 

Disclaimer:
Vitec Software Group AB (publ.) is to make the above information public pursuant to the Swedish Securities Market Act or the Swedish Financial Instruments Trading Act. The information will be made public at 13:00 CET on Thursday, July 2, 2015.

     

Vitec Software Group AB (publ) is a software company that offers industry specific business applications on the Nordic market. The Company, with operations in Sweden, Norway, Finland and Denmark is growing in the mature part of the software industry by consolidating vertical software segments. Clients include facility management companies, construction and real estate companies, banks and insurance companies, utilities and energy traders, healthcare companies, car spare part dealers and newspaper companies. Vitec is listed on Nasdaq OMX Stockholm. Group turnover has an annual capacity of 575 million SEK and has approximately 400 employees. Vitec is listed on Nasdaq OMX Stockholm.

www.vitecsoftware.com   Address: Box 7965, S-907 19 Umeå, Sweden. Phone +46 90 15 49 00


Press Release - Vitec acquires Infoeasy AS in Norway.pdf