Vitec Software Group AB (publ) has completed the previously announced acquisition of the Polish software company NMG.
The software company NMG develops and delivers mission-critical software for the energy and industrial sector in Poland. NMG provides software for large-scale energy consumption data processing, transmission management and smart grid applications. The software solutions facilitate efficient energy management. NMG is the market leader within their vertical and reported revenue of PLN 38.4 million (SEK 99.5 million) for the 2024 financial year.
The acquisition is expected to yield an immediate increase in earnings per share for Vitec. Consolidation takes place from the date of acquisition.