Vitec acquires software company LJ System AB

Vitec Software Group AB (publ) is strengthening its Nordic vertical market software position by acquiring all shares of Swedish software company LJ System AB.

The software company LJ System has offices in Lund and provides products for parishes and preschools. Congregation administration is a module-based management system used by about 300 parishes. The product modules include, for example, cemetery administration with digital maps, financial management, payroll, as well as scheduling of christenings, weddings and other church services, etc., via PCs, mobiles and tablets. Abbum is another product developed to provide administration and education management, primarily for preschools.

The company is expected to generate revenues of about SEK 18 million in the current financial year, 2019-2020, with adjusted EBITDA of about SEK 2.5 million. The acquisition is taking place on cash terms and is expected to directly increase earnings per share for Vitec. Consolidation will take place as at the acquisition date.

-LJ System’s sophisticated, but user-friendly, products enable parishes and preschools to run their affairs efficiently and effectively. The company is well-established, profitable and a good fit with our corporate culture. We acquire companies to retain them in the group and we are today extending our warmest welcome to 14 new colleagues, says Lars Stenlund, CEO of Vitec Software Group.

Will continue to develop the company jointly with Vitec

LJ System was founded in 1980 as a family business and has operated as a limited liability company since 1985. Andreas Friberg has been CEO and co-owner of the company since 2006.

-I am pleased to see Vitec as the new owner of the company. With its extensive niche software expertise and market-leading position, Vitec it is exactly what LJ System needs to realise its full potential. With Vitec onboard, I see great potential for continuing to develop the company here in Lund, says Andreas Friberg, CEO of LJ System.

Stratema advised Vitec Software Group AB throughout the process.
 


Vitec aquires software company LJ System AB
Vitec acquires LJ System AB
Stratema advised Vitec Software Group AB
Vitec aquires software company LJ System AB
TMT
2020
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