Ecclesia Systemer reported sales of SEK 7 million for the 2020 financial year and after the acquisition the combined operations with a focus on churches in Norway will have sales of approximately SEK 33 million.
Ecclesia Systemer develops and provides a SaaS service for the administration of cemeteries, crematoria, graves, and grave monuments in Norway. The software enables invoicing and bookings of funerals, ceremonies, and cremations. The approximately 260 customers mainly consist of “kirkelige fellesråd” which are a joint committee between municipalities and parishes in Norway’s municipalities.
Payment will be in cash. The acquisition is expected to yield an immediate increase in earnings per share for Vitec. Consolidation will commence as of the acquisition date.
Through the add-on acquisition, Ecclesia Systemer becomes part of the Vitec Agrando business unit, which provides software for church-related administration in Norway.
Stratema advised Vitec Software Group (publ).
Press release from Vitec here.
