Vitec acquires Nordman & Co

Vitec Software Group AB (publ) is strengthening its Nordic position in Vertical Market Software, by having acquired all shares of Swedish software company Nordman & Co AB on 26 April.

Vitec enters several new verticals by acquiring Nordman & Co. Nordman & Co AB develops and provides the Argus CRM software, which is a complete sales support system for grocery stores, convenience stores, pharmacies, catering operations and DIY stores, primarily in the Nordics. This acquisition will introduce Vitec to new markets, with potential cross-selling opportunities for other Vitec portfolio companies.

Stratema is exclusive M&A advisor to Vitec in the Nordics, providing expert assistance in identifying and facilitating strategic transactions.

The Argus system, with multiple supplementary modules, enables resellers to plan and manage, for example, store visits, orders, marketing activities, product details and presentations. Its approximately 130 customers are predominantly located in Sweden and elsewhere in the Nordics.

“Nordman & Co AB is a profitable and well-managed company, with a stable operation that is a good fit with our business model and corporate culture. We acquire companies to develop and retain them in the Group, which is why we always apply diligently selected acquisition criteria. Today, we are delighted to warmly welcome 12 new employees.”

Lars Stenlund, CEO of Vitec Software Group

“Vitec is a long-term owner with a thorough understanding of what it takes to develop and deliver business-critical software. I have followed Vitec’s journey for a long time, and I am firmly convinced that together we will continue to develop Nordman & Co AB for the great benefit of our current and future customers.”

Peter Norgren, CEO of Nordman & Co AB

About Vitec

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.

About Nordman & Co

Nordman & Co AB was founded in 1999 and has for built a strong reputation under long-standing CEO Peter Norgren and CDO Keyvan Haghighat. The company is headquartered in Stockholm and also has operations in Piteå.