Vitec Software Group AB acquires Plania AS

On 5 December, Vitec Software Group AB (publ) agreed to acquire all shares of Norwegian software company Plania AS.

Stratema had developed a relation with Plania over the years and identified Vitec as a prospective partner that would fit with Plania’s strategy going forward. Plania presents Vitec with an opportunity to consolidate its market-leading PropTech position.

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

Plania provides industry-specific software for property management, operation and maintenance. The company will be part of the “Real Estate” segment at Vitec.

“Plania is a very well-managed company with a business model and product offering that is completely 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. Plania is an established and mature company that provides proprietary industry-specific software They run a profitable business that meets all our criteria.”

Lars Eriksson, Head of M&A

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 Plania

Plania provides a PMS system, covering all aspects of property management. The company expected revenues of NOK 28.4 million for the 2016 financial year, about 48% of which are recurring revenues, and EBITDA of about NOK 6.6 million.