Milestones

Vitec has been in constant growth and has been profitable every year. Here are a few events that have been important and critical to our success over the years.

1985
Vitec was founded by Lars Stenlund and Olov Sandberg. The first software was a product for monitoring energy usage in properties.

1990
The operation was scaled up and the Board of Directors was strengthened with external members.

1991
The company was named Vitec. The invented name Vitec won the voting among the employees.

1992
Vitec moved into the energy sector with a software for calculating short-term forecasts for energy requirements in large energy systems.

1998
Vitec was listed on Innovationsmarknaden.

1999
Vitec was listed on AktieTorget. A number of acquistions were conducted in Sweden.

2002
Vitec paid a dividend for the first time. This was unique among IT-companies in Sweden, the year when the IT-bubble burst.

2003
An analysis of how the existing business had grown profitably through the years resulted in the acquisition-driven growth strategy, that still applies today.

2005
The Media segment was established when Vitec acquired the company Veriba AB, whose product was mainly targeted at newspaper publishers. Vitec also acquired IBS Vertex and became the most dominant software supplier in the real estate sector.

2007
The Estate Agents segment is formed in conjunction with the acquisition of Svensk FastighetsData, a market-leading supplier av software for realtors.

2010
The Finance & Insurance segment was established when Vitec acquired Capitex AB. They developed software for calculating estimates for banks and insurance companies, as well as software for estate agents and the real estate industry.

2011
Vitec was listed on Nasdaq Stockholm. The Estate Agents segment added operations in Norway through the acquisition of IT Makeriet A/S, the first acquisition outside Sweden.

2012
Vitec acquires the listed subsidiary 3L System AB (publ). Thus, 3L System was de-listed from First North.

2013
The Health segment was established when the Finnish company Acute FDS Oy was acquired, with software for the health care industry in Finland.

2014
The Auto segment is formed through the acquisition of AutoData Norway AS, and it software for the Norwegian auto parts market.
The Finance & Insurance segment is expanded to include Denmark, in conjunction with the acquisition of the Danish company, Aloc A/S.

2015
During the year Vitec acquired two companies in the Auto segment; the Norwegian software company Infoeasy AS and the Danish company Datamann A/S. That same year, the Finance & Insurance segment expanded when the Norwegian company Nice AS was acquired.

2016
The Media segment was wound up when Vitec Veriba AB was sold. In the same year Vitec acquired the Finnish company Tietomitta Oy and the new  Environment segment was formed. Also, the Finnish company Futursoft Oy and the Norwegian company Plania AS were acquired during the year and were added to the Auto and Real Estate segments.

2017
Vitec is moved from Small Cap to Mid Cap on Nasdaq Stockholm. The Danish software company MV-Nordic A/S with products for reading and writing difficulties was acquired and the Health segment changed name to Education & Health. Olov Sandberg, one of the founders of Vitec, wrapped up his final operating assignments in the company to retire. Olov remains as one of the company’s main owners.

2018
The Construction & Real Estate segment is shored up with the acquisition of the Swedish company, PP7 Affärssystem AB. The Education & Health segment is expanded with the acquisition of the companies, Agrando AS, Cito IT A/S and Smart Visitor System AB.