Vitec acquires the software company Avoine OY
On March 5 today, Vitec Software Group AB (publ) will be strengthening its position in the Nordic market for Vertical Software, through the acquisition of all shares in the Finish software company, Avoine Oy. The company’s product is aimed for sports associations and trade unions in Finland. The software delivers through a Software as a Service (SaaS) model. The company reported sales of SEK 29.4 million, with an adjusted EBITDA of SEK 6.3 million for the 2018 financial year.A cash payment will be transacted on the date of the takeover. The acquisition is expected to yield an immediate