Vitec completes the acquisition of Codea

Vitec Software Group AB (publ) has completed the previously announced acquisition of the Finnish software companies Codea Oy and Navicode Oy.

The software company Codea develops and delivers mission critical online field management software for emergency vehicles. The products Codea Nasta, Codea Care and other related Codea products are central in both moving emergency vehicles and emergency operations management. Codea holds a market leading position in Finland. The company reported sales of €1.4 million for the 2022 financial year.

The acquisition is expected to directly result in an increase in earnings per share for Vitec. Consolidation takes place from the date of acquisition.