Vitec acquires the software company Oy Raisoft Ltd

Vitec Software Group AB (publ) strengthens its position in Vertical Market Software by acquiring all shares in the Finnish software company Oy Raisoft Ltd. On October 5, the company had sales of SEK 50.2 million with an EBIT result of SEK 6.5 million for the financial year 2021.

Raisoft delivers digital assessment and decision-making systems for better care, primarily in Finland and Switzerland. RAIsoft.net offers extensive data collection and reporting capabilities. It is completely modular with options for EHR integrations (electronic health record), which takes documentation and analysis to a whole new level. Clinicians and managers get access to real-time information for assessment-based care planning and effective decision-making.

Payment is made in cash and with a convertible debenture with deviation from shareholders' preferential rights in accordance with authorization from the Annual General Meeting 2022-04-26. The term of the convertible bond is 36 months, which upon full conversion results in a dilution of the capital of 0.1%. The acquisition is expected to directly result in an increase in earnings per share for Vitec. Consolidation takes place from the date of acquisition.

"Raisoft delivers software with superior customer benefit for health and social care, primarily in Finland and Switzerland. Raisoft is a profitable and well-managed company with a business that fits well into our business model and corporate culture. We are pleased to welcome more than 60 new employees to us today," says Olle Backman, CEO, Vitec Software Group.

Raisoft was founded in 2000 and has operations in Kokkola and Jyväskylä.

"Vitec has a strong position with long experience and broad expertise in vertical software. For us, it is crucial to have a long-term owner who is committed to the continued development of the company. I am convinced that together we will continue to develop Raisoft for the benefit of our customers today and in the future," says Robert Åström, CEO Oy Raisoft Ltd.

About Vitec
Vitec is market leader for Vertical Market Software in the Nordic region. We develop and deliver standard niche software. Vitec grows through acquisitions of well-managed and well-established software companies. The Group's overall processes together with the employees' in-depth knowledge of the customer's local market enables continuous improvement and innovation. Vitec has 1,200 employees, is listed on Nasdaq Stockholm, and had net sales of SEK 1,571 million in 2021. Find more at www.vitecsoftware.com.