IMAP advises HEM on the sale of a majority stake to LCI Education
IMAP Morocco advised on the sale of an 85% stake in HEM, the leading Moroccan business school, to LCI Education, based in Montreal.
Vitec Software Group AB (publ) strengthens its Nordic position in Vertical Software by acquiring all of the shares in the Danish software company Cito IT A/S. The company's product is an industry-specific software for the pharmacy market in Denmark. The company had a turnover of MDKK 25.5 with an EBITDA result of MDKK 7.6 for the financial year 2016/17.
Payment is in cash at the time of entry. The acquisition expects to result in an increase in earnings per share for Vitec. Consolidation takes place from acquisition date.
Lars Stenlund, CEO Vitec Software Group said
"Cito IT is a well-managed and profitable company with standardized products for a specific niche. Vitec has a long-term perspective. When we acquire companies, we do so to keep them and we are therefore always careful with our acquisition criteria. Cito IT fits well into our business model as well as corporate culture, and it is therefore gratifying to welcome new employees and customers to the Group today".
Bo Nielsen, CEO Cito IT A/S added
"Vitec has a long track record of developing, selling and supporting vertical software. Together with our employee's knowledge of customer needs in our niche gives us great opportunities to continue developing software for the pharmacy market".
IMAP Morocco advised on the sale of an 85% stake in HEM, the leading Moroccan business school, to LCI Education, based in Montreal.
Read the speech given by Jurgis Oniunas, the Founding Partner of IMAP SEE and Chairman of IMAP, at the 15th anniversary and re-branding party of IMAP's partner company Ascendant Capital Advisors (now IMAP Southeast Europe) in Zagreb, Croatia on the 6th December 2018.
Jacob Voorhees, Head of Global M&A at IMAP’s US partner firm Capstone Headwaters, has been elected Vice Chairman of Barcelona-based international merger and acquisition partnership, IMAP Inc.