Vitec acquires Travelize International

Vitec Software Group AB (publ) is strengthening its Nordic position in Vertical Market Software on 3 February, by acquiring all shares of Swedish software company Travelize International AB, including its subsidiary.

Stratema identified travel-related software as an attractive vertical with discounted prices due to a challenging market suppressed by Covid. Travelize represented an opportunity for Vitec to acquire a pan-Nordic company with a strong and loyal customer base, with tremendous scaling potential. The platform is a launchpad for further development of its capabilities, with the potential to expand its product scope to both improve value added for existing customers and reach new customers.

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

Travelize develops and provides a complete enterprise management system for small and medium-sized travel agencies, primarily in Scandinavia. The web-based software encompasses travel reservations, web publishing and administration. The system includes an array of customer and payment management functions, as well as marketing functions. The company has about 300 customers, which are primarily located in Sweden, Denmark and Norway.

“Travelize provides sophisticated and user-friendly software with a focus on customer value added. This well-established and profitable company is a good fit with our business model and the Nordic corporate culture. We acquire companies to retain them in the Group, which is why we always apply diligently selected acquisition criteria. Today, we are delighted to warmly welcome eight new employees to the Group.”

Lars Stenlund, CEO of Vitec Software Group

“It feels right to have Vitec as our new owner. Their long-term perspective and extensive expertise in Vertical Market Software means that they have a fundamental understanding of our business. Their involvement and investment in technology and innovation pave the way for continued development of Travelize for the benefit of our customers.”

Anders Johansson, CEO of Travelize International 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 Travelize

Travelize was founded in 2001 by Anders Johansson, who is also its CEO. The company is headquartered in Gothenburg and Katrineholm. The subsidiary Åbergs DataSystem i Katrineholm Aktiebolag has been part of Travelize International AB since 2019.