Vitec Software Group AB’s Acquisition of Appva AB

Hannes Snellman advised Vitec Software Group AB on the deal.

Vitec Software Group AB strengthened its Nordic position in Vertical Market Software by acquiring all shares in the Swedish software company Appva AB.

The company reported sales of SEK 22.9 million, with an adjusted EBIT of SEK 2.1 million for the 2019 financial year.

Appva AB provides the product Medication and Care Support System, MCSS, a mobile and digital signature app for medication tracking within the municipal care system. The product was launched in 2012 and is used by about 100 customers in Sweden, most of which are municipalities.

Appva AB provides business-critical software with a focus on providers and the user experience, offering great customer benefit. The company is very profitable and well-managed, with an operation that is a good fit with our business model and corporate culture. We acquire companies to retain them in the Group, which is why we are always careful with our acquisition criteria. Today we would like to warmly welcome some 20 new employees, says Lars Stenlund, CEO of Vitec Software Group.

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. Our 800 employees are based in Denmark, Finland, Norway and Sweden. Vitec is listed on Nasdaq Stockholm and had net sales of SEK 1 156 million in 2019.

Hannes Snellman’s team included Claes Kjellberg (Picture) Johanna Wärnberg, Douglas Essehorn, Jenny Lundberg and Josephine Lindgren.

Involved fees earner: Douglas Essehorn – Hannes Snellman; Claes Kjellberg – Hannes Snellman; Josephine Lindgren – Hannes Snellman; Jenny Lundberg – Hannes Snellman; Johanna Wärnberg – Hannes Snellman;

Law Firms: Hannes Snellman;

Clients: Vitec Software Group AB;