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Vitec completes the acquisition of Taxiteknik Nordic AB

Vitec Software Group AB (publ) has completed the previously announced acquisition of the Swedish software company Taxiteknik Nordic AB.

The acquisition announced July 9th needed approval from the Inspectorate of Strategic Products under the Screening of Foreign Direct Investments Act. This approval has now been obtained.

The software company Taxiteknik develops and delivers a complete business system for taxi companies, through its Traffic Management, DriverApp and BookingApp products. The products offer core packages with add-ons to fit the needs of the customer. The company operates primarily on the Swedish market where it holds a stable position. Taxiteknik has an annual revenue of just over SEK 20 million. 

Vitec acquires a majority stake. Over the next few years, Vitec will increase its ownership and will hold 100 percent by 2027.

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

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 Software Group
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 1,550 employees, is listed on Nasdaq Stockholm and had net sales of SEK 2,778 million in 2023. Read more at vitecsoftware.com.

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Vitec completes the acquisition of Taxiteknik Nordic AB

Datum 2024-08-14, kl 11:30
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Vitec completes the acquisition of Taxiteknik Nordic AB
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