Addnode Group (STO:ANODB) acquires EssVision AB, a Swedish software company delivering document- and case management solutions to municipalities, authorities, and companies. EssVision had net sales of SEK 13 m during the fiscal year 2015 and had an operating margin of 17 percent.
EssVision is a software company which mainly focuses of a document- and case management solutions, an area in which Addnode Group’s business area Process Management is one of the leading providers to the Swedish market.
EssVision had net sales of SEK 13 m during the fiscal year 2015 and an operating margin of 17 percent. An example of customers using the company’s products is the municipality of Täby, the municipality of Ystad and Karlshamn Energy.
– We have followed the success of EssVision for a long period of time and it feels great that they have chosen to become a part of Addnode Group. Together we can create a stronger position and a really good customer offering to public sector clients, says Andreas Wikholm, President of Addnode Group Process Management.
– We at EssVision are looking forward to become part of Addnode Group and to be able to provide our customers with a combined offering of services. We see great potential to increase the execution speed in all product development we currently have ongoing, says Bengt Walfridson, CEO and founder of EssVision.
Completion took place July 1, 2016, and EssVision will be a part of Addnode Group’s business area Process Management. The acquisition of all outstanding shares is expected to have a slightly positive impact on Addnode Group’s earnings per share.
About Addnode Group
Addnode Group acquires, operates and develops entrepreneur-driven companies that supply software and services to markets in which we have or can achieve a leading position. We are one of Europe’s leading suppliers of software and services for design, construction and product data information, and a leading supplier of document and case management systems to public sector clients in Sweden and Norway. More than 600,000 engineers and officials use our system solutions on a daily basis. We are 1,200 employees in Sweden, Austria, Denmark, Finland, Germany, India, Norway, Slovakia, UK, US, and Serbia. Net sales in 2015 amounted to SEK 1,900 M. Addnode Group’s Series B share is listed on Nasdaq Stockholm. For more information, please visit www.addnodegroup.com
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