- Business
- Vitec Software Group AB (publ) Vitec Software Group AB (publ) is a Sweden-based developer of vertical market software solutions, offering standardized software products, consulting services, and support services tailored to specific industries including real estate brokerage and management, energy forecasting and grid management, media and publishing, financial services for banks and insurance companies, healthcare, construction, public sector administration, pharmacies, automotive workshops, education, and waste management; the company operates primarily in the Nordic region with presence in Sweden, Norway, Denmark, Finland, the Netherlands, Poland, and the United States. Founded in 1985 and headquartered in Umea, Sweden, Vitec Software Group AB (publ) manages independent business units such as Brokerage, Real Estate, Media (including the Balance business system), Energy, Capitex (for banks and insurers), and 3L System (for construction and directories), alongside subsidiaries like Futursoft OY, AutoData Norge AS, Tietomitta OY, Aloc A/S, and Nice AS; it generates revenue through licensing, cloud subscriptions, and related services across these segments. In October 2025, the company completed the acquisition of an 80% stake in Polish software firm NMG S.A., a market leader in mission-critical solutions for energy data processing, transmission management, and smart grids with 2024 revenue of SEK 99.5 million, planning full ownership by end-2028 and expecting immediate earnings per share accretion; this follows ongoing strategic expansion via acquisitions to strengthen its vertical software portfolio, with 2024 net sales reaching 3,334 MSEK from 1,770 employees.