Vitec Software Group B — M&A Activity 2017

Jul 6, 2017

PRESS RELEASE DATE: 2017-07-06

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Vitec acquires MV-Nordic A/S in Denmark

Vitec Software Group AB (publ) has on July 6 agreed to acquire all shares in the Danish software company MV-Nordic A/S. The company offers software for the education sector in Denmark, Norway and Sweden. The main product is a cloudbased service for people with read/write disorders. MV-Nordic has annual sales of approximately 110 MDKK with an EBITDA of approximately 11 MDKK.

Payment is in cash and a convertible bond with deviation from shareholders' preferential rights in accordance with the authorization of the AGM 2017-04-25. The convertible bonds duration is 3 years, which at full conversion dilutes the capital by 0.8%. The acquisition is expected to directly result in an increase in earnings per share for Vitec. Consolidation is from the acquisition date and the company will be included in the segment "Health and Education".

"MV-Nordic is a well-managed company with a business model and product offering in line with our growth strategy. As an industrial player, it is crucial for us that the companies we acquire fits well into our business model and that they share our core values. MV-Nordic is an established and mature company that offers standardized software to a specific industry. They run a profitable business that meets all our criteria," says Lars Stenlund, CEO Vitec Software Group.

For more information, please contact

Lars Stenlund, VD Vitec Software Group AB (publ), mob. +46 70 659 49 39 Patrik Fransson, IR Vitec Software Group AB (publ) mob. +46 76 942 85 97

VITEC • www.vitecsoftware.com • info@vitec.se

UMEÅ: TVISTEVÄGEN 47 A, 907 29 UMEÅ, SWEDEN. PHONE: +46 90-15 49 00

Vitec Software Group AB (publ) is a Nordic software company that develops and delivers standardised software for industry specific needs. The Group has operations in Sweden, Denmark, Finland and Norway and grows in the mature part of the software industry by consolidating vertical software segments. Our customers include facility management companies, construction and real estate companies, banks and insurance companies, utilities and energy traders, healthcare companies, car spare part dealers and waste management companies . The Group has 500 employees and had 2016 a turnover of SEK 675 million. Vitec is listed on Nasdaq Stockholm.