Vitec Software Group AB acquires MV-Nordic A/S

On 6 July, Vitec Software Group AB (publ) agreed to acquire all shares of Danish software company MV-Nordic A/S.

To increase its market penetration, MV-Nordic was seeking a partner with a strong brand to enhance visibility. Several owners wanted to exit the company, further increasing the need for a new partner. Stratema presented MV-Nordic with the ideal solution in the form of Vitec, a niche software expert, with a strong  EdTech position. As Vitec was dedicated to increasing its market presence in the education sector, MV-Nordic represented an attractive opportunity.

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

“MV-Nordic is a well-managed company with a business model and product offering aligned with our growth strategy. As an industrial player, it is crucial for us that the companies we acquire fit well into our business model and that they share our core values. MV-Nordic is an established and mature company that provides standardised software to a specific industry. They run a profitable business that meets all our criteria.”

Lars Stenlund, CEO of Vitec Software Group.

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 MV-Nordic

MV-Nordic provides schools and companies with reading and writing tools. Its revenues were DKK 110 million, with EBITDA of approx. DKK 11 million, in the last financial year.

Read the whole press release here (Swedish).
Press release from Nasdaq Globalnewswire here
Press release from Reuters here