Vitec Software Group AB (publ) is strengthening its Nordic position in Vertical Market Software on October 19 by acquiring all shares in the Finnish software company NexGolf Oy.

NexGolf offers enterprise management systems for golf courses. The products facilitate handling of e.g. invoicing, membership databases, tournaments, booking and payment of tee times, as well as communication with members. The company is headquartered in Oulu, Finland, and currently has a customer base of approximately 110 golf courses in Finland.

Vitec Software Group AB is market leader for Vertical Market Software in the Nordic region. The group employs approximately 830 persons in Denmark, Finland, Norway and Sweden, and had a turnover of SEK 1,156 million in 2019. Vitec is headquartered in Umeå and listed on Nasdaq Stockholm.

"NexGolf is a well-managed and profitable company that offers high quality products with a focus on customer benefit. The operation is a good fit in our business model and corporate culture. We acquire companies to keep them in the Group, and today we would like to warmly welcome new employees to Vitec," says Lars Stenlund, CEO of Vitec Software Group.

"I'm pleased to see Vitec as the new owner of the company. It feels right considering its broad expertise within niche software and its market-leading position. Together with Vitec, I see great opportunities for the company to continue to grow here in Finland," says Jere Polvi, CEO of NexGolf Oy.

Carner Corporate Finance advised Vitec Software Group AB throughout the acquisition process.