Vitec completes the acquisition of Scanrate Financial Systems A/S

Vitec Software Group AB (publ) has completed the previously announced acquisition of the Danish software company Scanrate Financial Systems A/S

Scanrate Financial Systems A/S develops and delivers software for analysis, valuation, and risk management with a focus on the Danish bond market. The products RIO and Lima enable comprehensive calculations and analysis of all types of Danish bonds and provide an overview of assets and liabilities. The about 50 customers are mainly based in Denmark, UK and Switzerland and consist of banks, asset managers, financial data providers and real estate investors.

The company reported sales of SEK 57 million, with an EBIT of SEK 25 million for the 2021 financial year.

For more information, please contact

Olle Backman, CEO, Vitec Software Group AB (publ), [email protected], +46 70 632 89 93

Patrik Fransson, Investor Relations, Vitec Software Group AB (publ), [email protected], +46 76 942 85 97

About Vitec

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. Vitec has 1,050 employees, is listed on Nasdaq Stockholm, and had net sales of SEK 1,571 million in 2021. Find more at www.vitecsoftware.com.