Cost-cutting program in Estate Agents Division

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

 


Anhänge

Pressrelease - Cost-cutting program in Estate Agents Division.pdf