Payment by 25 MNOK at closing, of which 5 million NOK is compensation, NOK for NOK, for the excess liquidity. The acquisition is expected to directly result in increased earnings per share of Vitec. Consolidation takes place from December 1st 2015.
Nice AS has since 1987 focused on the development, implementation and operation of fully integrated system solutions for insurance companies. The company’s SaaS-based systems which was launched in 2011 is used by customers in Norway, Sweden and Denmark. The acquisition adds 13 new employees to the Vitec Group.