Vitec acquires the software company WIMS
On May 8 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 Norwegian software company, Web Insurance Management Systems AS. The company’s product is aimed for the insurance industry in Norway, Sweden and Denmark. The company reported sales of NOK 24.8 million, with an adjusted EBITDA of NOK 4.4 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 increase in earnings per share for Vitec.