Vitec Software Group AB: Vitec acquires the software company Agrando
Vitec Software Group AB (publ) strengthens its Nordic position in Vertical Software by today, on April 19, acquiring 97.2% of the shares in the Norwegian software company Agrando AS. The company's product is an industry-specific software for the church market in the Nordic region with Norway and Sweden as main markets. The company and its subsidiaries had a turnover just above MSEK 42 with an EBITDA result of 5.5 MSEK for the financial year 2017. Payment is in cash at the time of entry. The acquisition is expected to directly result in an increase in earnings per share for Vitec.