Vitec Software Group AB (publ) is strengthening its position in Vertical Market Software on September 10 by acquiring all shares in the Dutch software company Vabi Holding B.V. The company reported sales of EUR 6.8 million with an EBITDA result of EUR 4.25 million for the 2020 financial year.
Vabi develops and provides software that contributes to sustainable and efficient energy management for the real estate industry. The products have several functions such as decision support systems, user-friendly 3D simulations and energy certification for reduced climate impact.
Payment will be in cash. The acquisition is expected to yield an immediate increase in earnings per share for Vitec. Consolidation will commence as of the acquisition date.
"Vabi is the Dutch market leader in building simulation, energy certification and energy advisory software. Vabi was founded in 1972 by the research institute TNO and the Dutch government in collaboration with engineering companies to act as the Dutch knowledge institute on sustainable buildings. With its software Vabi delivers an important part of the puzzle for the real estate industry, achieving a green transition," says Olle Backman, CEO of Vitec Software Group.
Vabi's software is used by a growing customer base of over 1,400 customers, covering the entire value chain and supporting the full lifecycle of buildings. The Vabi offices are located in Delft, the Netherlands.
"We continuously discuss with companies mainly within, but also outside the Nordic region. Today we made our first acquisition outside the Nordics. The starting point is always our well-proven acquisition criteria, where Vabi fits in perfectly. I am therefore very pleased to welcome 32 new employees to Vitec," says Olle Backman.
For more information, please contact
Olle Backman, CEO, olle.backman@vitecsoftware.com,+46 70 632 89 93
Patrik Fransson, Investor Relations, patrik.fransson@vitecsoftware.com,+46 76 942 85 97
About Vitec
Vitec is market leader for Vertical Market Software in the Nordic region. We develop and deliver standard niche software. Vitec grows through acquisitions of well-managed and well-established software companies. The Group's overall processes together with the employees' in-depth knowledge of the customer's local market enables continuous improvement and innovation. Vitec has 975 employees, is listed on Nasdaq Stockholm, and had net sales of SEK 1,313 million in 2020. Find more at www.vitecsoftware.com.