Vitec acquires software company WIMS

On 8 May, Vitec Software Group AB (publ) will strengthen its position in the Nordic market for Vertical Market Software through the acquisition of all shares in the Norwegian software company Web Insurance Management Systems AS (WIMS).

Stratema has through its in-depth knowledge of the Nordic software market identified WIMS as a possibility for Vitec to reinforce its position in the finance and insurance software industry. Through the strategic acquisitions of Vitec Aloc in Denmark and Vitec Nice in Norway, Vitec has built a robust FinTech offering. WIMS, with its advanced, industry-specific solution, offers scope for considerable synergies with both Vitec Aloc and Vitec Nice. Partnering with Vitec positions WIMS to tap into Vitec’s broad network and access major international market players.

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

WIMS’ product is aimed at the insurance industry in Norway, Sweden and Denmark.

“We acquire companies to retain them. Consequently, we always apply diligently selected acquisition criteria. WIMS is a good fit, in terms of its business model and corporate culture, and it is today our pleasure to welcome new employees and customers to the Group.”

Lars Stenlund, CEO of Vitec Software Group

“Our employees’ in-depth understanding of the insurance industry, in combination with Vitec’s long track record in the market for Vertical Market Software, will provide us with tremendous scope for further development of our products and business.”

Per-Gunnar Swahn, Managing Director of WIMS

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 WIMS

WIMS is a modern software solution provider, whose products are tailormade for insurance companies.