Vitec Software Group AB
Cost-cutting program in Estate Agents Division
Vitec Software Group AB 22.04.2015 08:30 Dissemination of a Adhoc News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- As a consequence of Swedbank Fastighetsbyrå AB having announced its successive transition to a proprietary estate agent system, Vitec is adjusting its organization. A cost-cutting program has been initiated affecting the Estate Agents Sweden Division. Fully implemented, the program will reduce annual costs by approximately SEK 15 million, and is expected to have its full effect from the fourth quarter 2015. The ongoing rollout of the SaaS-based estate agents system Vitec Express continues as planned. UMEÅ, 2015-04-22 08:30 CEST (GLOBE NEWSWIRE) -- For further information feel free to contact; Lars Stenlund, CEO, Vitec Software Group, Mob. +46 70 659 49 39 Richard Larsson, Manager, Vitec Estate Agents Division, Mob. +46 200 28 30 Disclaimer: Vitec Software Group AB (publ.) is to make the above information public pursuant to the Swedish Securities Market Act or the Swedish Financial Instruments Trading Act. The information will be made public at 08:30 CET on Wednesday, April 22, 2015. Vitec Software Group (publ.) is a software company that offers industry specific business applications on the Nordic market. The Company, with operations in Sweden, Norway, Finland and Denmark is growing in the mature part of the software industry by consolidating vertical software segments. Clients include facility management companies, construction and real estate companies, banks and insurance companies, utilities and energy traders, healthcare companies, car spare part dealers and newspaper companies. Vitec is listed on Nasdaq OMX Stockholm. Group turnover has an annual capacity of SEK 575 million and has approximately 400 employees. Vitec is listed on Nasdaq OMX Stockholm. www.vitecsoftware.com Address: Box 7965, S-907 19 Umeå, Sweden. Phone +46 90 15 49 00 News Source: NASDAQ OMX 22.04.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Vitec Software Group AB Sweden Phone: Fax: E-mail: Internet: ISIN: SE0000514630 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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