Acquisition of InfoEasyAS

On July 2 Vitec Software Group AB (publ) bought 100% of the shares for the Norwegian software company InfoEasy AS. The product is an industry-specific software for the Norwegian car industry. The company’s turnover for the financial year of 2014 is MNOK 21.8 with about 50% recurring revenue and EBITDA of MNOK 1.9. Payment is cash 15,4 million NOK, of witch 5,4 million NOK i compensation, NOK for NOK for the excess liquidity. The acquisition is expected to directly increasing earnings per share of Vitec. Consolidation will be taking place from July 1. The acquisition is expected to give a direct result with an increase in earnings per share of Vitec.

The business was built up during the 80s, and since then has delivered industry-specific software for the Norwegian vertical software market. The acquisition strengthens Vitec’s position as a long-term and resourceful Nordic provider of industry-specific business. The acquisition provides Vitec Group with 17 new employees.

For more information regarding the acquistion please call:
Lars Stenlund, CEO, Vitec Software Group AB (publ)
Tel:+46 70 659 49 39