Vitec Software Group AB: Vitec acquires the Danish software company Cito IT A/S
Vitec Software Group AB (publ) strengthens its Nordic position in Vertical Software by today, on May 31, acquiring all of the shares in the Danish software company Cito IT A/S. The company's product is an industry-specific software for the pharmacy market in Denmark. The company had a turnover of MDKK 25.5 with an EBITDA result of MDKK 7.6 for the financial year 2016/17. Payment is in cash at the time of entry. The acquisition expects to result in an increase in earnings per share for Vitec. Consolidation takes place from acquisition date. "Cito IT is a well-managed and profitable