Vitec Software Group AB: Vitec sells Media business to XLENT
Vitec has today agreed with XLENT Consulting Holding AB on the sale of the shares of Vitec AB Veriba which constitutes Vitec Media business. The business, with sales of approximately SEK 9 million per year, mainly includes custom application development, and has a significantly higher share of services sales than other parts of Vitec. The business has a good fit with XLENT, which has its focus on service sales, which will be beneficial for both employees and customers. Sales are made to the consolidated book values.
For more information, please contact
Lars Stenlund, CEO Vitec Software Group AB (publ), tel +46 70-659 49 39
Per-Erik Spansk, XLENT Consulting Holding AB, tel +46 73 398 87 00
Vitec Software Group AB (publ.) is to make the above information public pursuant to the Swedish Securities Market Act or the Swedish Financial Instruments Trading Act. The information will be made public at 12:15 CET on Friday, July 1, 2010.
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.