Dave Sandberg
Partner
Lars Stenvold Wik
Buy-side
Technology
SaaS & Software
Stratema reached out to Agrando in 2015. Over the years, Agrando and Stratema have discussed strategic options on a number of occasions and Vitec was highlighted as a compelling option for Agrando’s next step. Stratema is exclusive M&A advisor to Vitec in the Nordics, providing expert assistance in identifying and facilitating strategic transactions. Vitec considers Agrando a highly attractive opportunity for entering a new vertical, where Agrando has positioned itself enviably. This partnership will enable Agrando to leverage Vitec’s reputable brand to expand its market shares in Sweden.
“Agrando is a well-managed and profitable company with standardised products for a specific niche. Vitec has a long-term perspective; we acquire companies to retain them and we therefore always apply diligently selected acquisition criteria. Agrando fits well into our business model, as well as our corporate culture, and we are therefore delighted to welcome new employees and customers to the Group today.”
Lars Stenlund, CEO of Vitec Software Group.
“Vitec has an outstanding track record in developing, selling and supporting Vertical Market Software. Combined with our employees’ knowledge of customer needs in our niche, this gives us tremendous scope for further development of software for the church market.”
Per Halvorsen, CEO of Agrando.
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.
Agrando AS provides industry-specific software for the management and operation of churches in the Nordics, with Norway and Sweden as its primary markets. The company had revenues of SEK 42 million, with EBITDA of about SEK 5.5 million, in 2017.
