Vitec Software Group AB: Vitec acquires Futursoft OY in Finland
Vitec Software Group AB (publ) has on September 7 agreed to acquire 100 % of the shares in the Finnish software company Futursoft OY specialized in software for the automotive and machinery industries. The company's customers are in the spare parts trade, maintenance and repair, and sales of heavy machinery and equipment. Overall, it has about 1,700 customers and 5,000 users in Finland, Sweden and Estonia. The company reported sales for the fiscal year that ended 2015-09-30, of EUR 4.0 million, with approximately 69 % recurring revenue and EBITDA of EUR 1.1 million.
Payment is in cash at closing. Acquisition is expected to directly result in an increase in earnings per share for Vitec. Consolidation is from the acquisition date. The acquired company will be included in the Vitec business segment "Auto".
For more information, please contact
Lars Stenlund, CEO Vitec Software Group AB (publ), Phone +46 70 659 49 39
Mikko Pohjanharju, CEO Futursoft OY, tel +358 207 288 730
Time of information
The information will be made public at 12:15 CET on Wednesday, September 7, 2016.
Vitec Software Group AB (publ) is a Nordic software company that develops and delivers standardised software for industry specific needs. The Group has operations in Sweden, Denmark, Finland and Norway and grows in the mature part of the software industry by consolidating vertical software segments. Our customers include facility management companies, construction and real estate companies, banks and insurance companies, utilities and energy traders, healthcare companies, car spare part dealers and newspaper companies. The Group has 450 employees and had 2015 a turnover of SEK 618 million. Vitec is listed on Nasdaq Stockholm.