About Vitec Software Group
Vitec Software Group is a company based in Umea (Sweden) founded in 1985. It operates as a SaaS (Software-as-a-Service). The company has 1,660 employees as of December 31, 2024. Vitec Software Group has completed 35 acquisitions, including ABS Laundry Business Solutions, Acute FDS and Agrando. Vitec Software Group offers products and services including Vertical Software Solutions. Vitec Software Group operates in a competitive market with competitors including AKQA, Unicorn, Hancom, AlmavivA and Hedgehog lab, among others.
- Headquarter Umea, Sweden
- Employees 1660 as on 31 Dec, 2024
- Stage Public
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Sectors
Technology
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Email
***********
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Phone
*********
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Website
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Social
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- Legal Name Vitec Software Group Ab Class B
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Annual Revenue
$301.91 M (USD)20.05as on Dec 31, 2024
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Net Profit
$37.18 M (USD)20.91as on Dec 31, 2024
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EBITDA
$101.54 M (USD)14.6as on Dec 31, 2024
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Latest Funding Round
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Investors
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Employee Count
1660
as on Dec 31, 2024
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Investments & Acquisitions
ABS Laundry Business Solutions
& 34 more
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IPO & Listings of Vitec Software Group
Vitec Software Group is a publicly listed company on the OMXSTO with ticker symbol VIT_B in Sweden, operating in the Technology services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Vitec Software Group
Vitec Software Group offers a comprehensive portfolio of products and services, including Vertical Software Solutions. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Standardized software is developed for various niche industries.
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Funding Insights of Vitec Software Group
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investments & Acquisitions by Vitec Software Group
Vitec Software Group has strategically engaged in corporate development activities, having acquired 35 companies. Notable acquisitions include ABS Laundry Business Solutions, Acute FDS and Agrando. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Software suite for insurance management and reporting is offered.
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2019 | ||||
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Solution provider for digital agricultural trade
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2017 | ||||
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Energy management solutions for greenhouse horticulture are provided online.
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2012 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Vitec Software Group
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Vitec Software Group Comparisons
Competitors of Vitec Software Group
Vitec Software Group operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as AKQA, Unicorn, Hancom, AlmavivA and Hedgehog lab, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Integrated digital marketing campaigns are developed and executed across channels.
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| domain | founded_year | HQ Location |
Software development services are provided by Unicorn in Prague.
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| domain | founded_year | HQ Location |
Technology conglomerate spanning AI, blockchain, IoT, and mobility solutions.
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| domain | founded_year | HQ Location |
IT services suite solutions are provided globally by AlmavivA.
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| domain | founded_year | HQ Location |
Mobile application development and UX design services are provided.
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| domain | founded_year | HQ Location |
Platform offering digital textbooks for students
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Vitec Software Group
Frequently Asked Questions about Vitec Software Group
When was Vitec Software Group founded?
Vitec Software Group was founded in 1985.
Where is Vitec Software Group located?
Vitec Software Group is headquartered in Umea, Sweden.
How many employees does Vitec Software Group have?
As of Dec 31, 2024, the latest employee count at Vitec Software Group is 1,660.
What is the annual revenue of Vitec Software Group?
Annual revenue of Vitec Software Group is $301.91M as on Dec 31, 2024.
What does Vitec Software Group do?
Vitec Software Group is focused on the development and delivery of standardized vertical software for niche industries. Operations are conducted across sectors such as pharmacies, banks, car workshops, real estate, healthcare, and education. Solutions are tailored to meet specific needs within these verticals, ensuring long-term reliability for customers. The company maintains a global presence while emphasizing sustainability and a long-term perspective in its business approach.
Who are the top competitors of Vitec Software Group?
Vitec Software Group's top competitors include RedShelf, Unicorn and Hedgehog lab.
What products or services does Vitec Software Group offer?
Vitec Software Group offers Vertical Software Solutions.
Is Vitec Software Group publicly traded?
Yes, Vitec Software Group is publicly traded on OMXSTO under the ticker symbol VIT_B.
How many acquisitions has Vitec Software Group made?
Vitec Software Group has made 35 acquisitions, including ABS Laundry Business Solutions, Acute FDS, and Agrando.
What is Vitec Software Group's ticker symbol?
The ticker symbol of Vitec Software Group is VIT_B on OMXSTO.