Vitec acquires the software company Intergrip
Vitec Software Group AB (publ) strengthens its position in Vertical Market Software on February 7, by acquiring all shares in the Dutch software company Intergrip B.V. Intergrip reported revenue of €2.5 million for the 2024 financial year.
The software company Intergrip develops and delivers software that enhances the education system in the Netherlands. Their platform supports the continuous learning line and monitors students’ transition to further education. Intergrip’s three products provide scalable modules designed to meet the specific requirements of the customers, including primary schools, secondary schools, vocational institutions, and municipalities. By clearly identifying students at risk, these students can be guided more intensively to prevent them from leaving school prematurely. Intergrip is the market leader in the Netherlands.
Payment will be in cash. The acquisition is expected to yield an immediate increase in earnings per share for Vitec. Consolidation will commence as of the acquisition date.
- Intergrip is a well-managed company with a business model and product offering that align with our acquisition criteria. As an industrial acquirer, it is crucial for us that the companies we acquire meet our standards and share our core values, says Olle Backman, CEO and President of Vitec Software Group. Intergrip creates societal benefit and maintains a long-term perspective, which are qualities we highly value. This will make a perfect fit. We are delighted to extend a warm welcome to their entire team as they join our group.
Intergrip was founded in 2007 and is based in Veenendaal, in the Netherlands. The team comprises 18 co-workers.
- For us, it has been important to find a long-term owner who is committed to the continued development of the company, says Johannes Diepeveen, founder and representative of the selling party, Capturum Software Group. We believe that Vitec's acquisition will provide the stability and resources needed to further enhance Intergrip’s offerings and to support the market more effectively.