Advised on Purchase of CompanyTechnology
Acquired 100% of Business Operations
Vitec Software Group AB strengthened its Nordic position in Vertical Market Software by acquiring all shares in the Finnish software company Hotellinx Systems Oy.
Founded in 1992 and based in Turku, Finland, Hotellinx Systems develops and delivers software for hotels, restaurants, and spa and conference facilities. The software manages bookings, room- and restaurant bills and supports the daily work routines for reception, sales, cleaning, and service activities. Hotellinx has approximately 250 customers with about 400 facilities, mainly located in Finland. The company reported sales of EUR 1.8 million, with an EBIT of EUR 0.8 million for financial year 2021.
Vitec is market leader for Vertical Market Software in the Nordic region and develops and delivers standard niche software. Vitec grows through acquisitions of well-managed and well-established software companies. Vitec is headquartered in Umeå and listed on Nasdaq Stockholm. Vitec has 1,050 employees in Denmark, Finland, Netherlands, Norway and Sweden and had net sales of SEK 1,571 million in 2021.
Carner Corporate Finance (IMAP Finalnd) advised Vitec Software Group throughout the acquisition process.