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Vitec completes the acquisition of Codea

Vitec Software Group AB (publ) has completed the previously announced acquisition of the Finnish software companies Codea Oy and Navicode Oy.

The software company Codea develops and delivers mission critical online field management software for emergency vehicles. The products Codea Nasta, Codea Care and other related Codea products are central in both moving emergency vehicles and emergency operations management. Codea holds a market leading position in Finland. The company reported sales of €1.4 million for the 2022 financial year.

The acquisition is expected to directly result in an increase in earnings per share for Vitec. Consolidation takes place from the date of acquisition.

FOR MORE INFORMATION, PLEASE CONTACT
Olle Backman, CEO, Vitec Software Group AB (publ)
olle.backman@vitecsoftware.com, +46 70 632 89 93

Patrik Fransson, Investor Relations, Vitec Software Group AB (publ),
patrik.fransson@vitecsoftware.com, +46 76 942 85 97
 

ABOUT VITEC
Vitec is a leading provider of Vertical Software and has its origin and headquarters in Umeå, Sweden. Our products are developed to meet specific needs within various niche markets in society. The expertise of our employees, combined with our shared corporate culture and business model, enable continuous improvement and innovation. We grow through the successes of our companies, as well as through acquisitions. Everything we do is based on a long-term perspective. Because we are to rely on – today and tomorrow. Vitec has 1,430 employees, is listed on Nasdaq Stockholm and had net sales of SEK 1,978 million in 2022. Read more at vitecsoftware.com.

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Vitec completes the acquisition of Codea

Datum 2023-11-28, kl 08:50
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Vitec completes the acquisition of Codea