Vitec acquires Scanrate Financial Systems

Vitec Software Group AB (publ) strengthens its Nordic vertical market software position by signing an agreement to acquire all shares of the Danish software company Scanrate Financial Systems A/S. 

The software company Scanrate Financial Systems A/S develops and provides analysis, valuation and risk management software with a focus on the Danish bond market. Its products RIO and Lima enable its customers to perform comprehensive calculations and analyses on all types of Danish bonds, as well as to get a complete overview of assets and liabilities. It has about 50 customers, which are predominantly banks, asset managers, financial data providers and property investors based in Denmark, the UK and Switzerland. 
 
Completion of the acquisition is subject to the approval of the Danish Business Authority (“DBA”) under the Danish Investment Screening Act (“DISA”). This is expected to take up to 90 working days. 

Vitec Software Group AB (publ) was advised by Stratema. 

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