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Vitec Software Group AB: Vitec acquires Plania AS in Norway

Vitec acquires Plania AS in NorwayVitec Software Group AB (publ) has on December 5 agreed to acquire 100 % of
the shares in the Norwegian software company Plania AS, specialized in
software for real estate administration, facility management and property
maintenance. The company is expected to report sales of 28.5 MNOK for the
fiscal year of 2016, with approximately 48 % recurring revenue and an EBITDA
of 6.6 MNOK.

Payment is in cash at closing. Acquisition is expected to directly result in
an increase in earnings per share for Vitec. Consolidation is from December
5. The acquired company will be included in the Vitec business segment "Real

- Plania is a very well-managed company with a business model and
product offering that is completely in line with our growth strategy of
Vitec. 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. Plania is an established and mature company that provides proprietary
industry specific software, they have a profitable business that meets all
our criteria, said Lars Eriksson, M&A.

For more information, please contact

Lars Stenlund, CEO Vitec Software Group AB (publ), Phone +46 70 659 49 39
Lars Eriksson, M&A Vitec Software Group AB (publ), Phone +46 70 831 15 02
Leif Kvie, Founder Plania AS, Phone +47 51 95 90 95

Time of information

The information will be made public at 13:50 CET on Monday, December 5, 2016.

Press Release - Vitec acquires Plania AS in Norway

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vitec Software Group AB via Globenewswire

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