Vitec acquires Smart Visitor System AB
On November 6 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 Swedish software company, Smart Visitor Systems AB. The company’s product is aimed at municipal leisure and cultural departments in Sweden and Norway. The company reported sales of SEK 23.7 million, with an adjusted EBITDA of SEK 3.1 million for the 2017 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