Dave Sandberg
Partner
Lars Stenvold Wik
Buy-side
Technology
SaaS & Software
Cito provides software solutions for the eHealth sector, where Vitec is currently witnessing substantial growth.
Stratema is exclusive M&A advisor to Vitec in the Nordics, providing expert assistance in identifying and facilitating strategic transactions.
“Cito IT is a well-managed and profitable company with standardised products for a specific niche. Vitec has a long-term perspective. We acquire companies to retain them, and we therefore always apply diligently selected acquisition criteria. Cito IT fits well into our business model, as well as our corporate culture, and we are therefore delighted to welcome new employees and customers to the Group today.”
Lars Stenlund, CEO of Vitec Software Group.
“Vitec has a long track record in developing, selling and supporting Vertical Market Software. Combined with our employees’ knowledge of customer needs in our niche, this gives us tremendous scope for further development of software for the pharmacy market.”
Bo Nielsen, CEO of Cito IT A/S.
Vitec is the market leader for Vertical Market Software in the Nordics. They develop and deliver standard niche software. Vitec grows through acquisitions of well-managed and well-established software companies. The Group’s integrated processes, combined with its employees’ in-depth knowledge of customers’ local markets, facilitate continuous improvement and innovation. Vitec is listed on Nasdaq Stockholm.
Cito provides software solutions to the Danish pharmacist market and had revenues of DKK 25.5 million and EBITDA of DKK 7.6 million in 2016/2017.
