View Software expands in the Nordic market through the purchase of Avector AB in Sweden.
–We have always thought of Sweden as an exciting market and consider establishing ourselves in Sweden as a natural first step in our geographical growth strategy. Sweden has come further than us when it comes to the digitalization of the real estate industry and the acquisition of Avector AB not only adds to our product portfolio but also strengthens our position in this market, says Sten-Roger Karlsen, CEO of View Software (right on picture).
Increased competence and reduced environmental impact
–The merger will increase our capacity and expertise in several core areas. We are one of the leading country’s largest competence environments in the field of Management, Operation and Maintenance (FDV) of real estate and industrial maintenance, and together with Avector we are even stronger. Avector’s energy monitoring system AV Energy is particularly interesting to us. We see a growing interest in energy efficiency in both the real estate sector as well as in industry. This is partly motivated by the goal of cost reduction associated with energy consumption, but also by environmental considerations. The industries in which we operate are becoming increasingly environmentally conscious, and many want to contribute actively to reaching our climate goals. In addition, offering good solutions for energy follow-up is a way for us to contribute, says Sten-Roger Karlsen.
A perfect supplement
View Software is an IT company with 45 employees developing software for the real estate owners. With the acquisition of Avector, they will acquire an additional 12 employees in a Swedish subsidiary, View Software AB. «When we decided to establish ourselves in Sweden, the goal was to merge with an existing player with a significant foothold in the Swedish market. This is an easier way than growing existing business across the border. We couldn’t find a better player than Avector. The companies have consistent market strategies, stand for the same core values, develop solutions on the same technological platform and are complementary in terms of product», says Sten-Roger Karlsen
Prepared for the future
Hans Ekman (left on picture) has been CEO of Avector since 2005 and sole owner since 2011. –Over time, View Software has shown good ability to improve businesses, and has the knowledge and resources needed to take Avector to the next level. We see great potential for View Software’s products in Sweden, and we strongly believe that together we will achieve good revenue growth in the years to come, says Hans Ekman.
Avector had sales of SEK 12 million in 2019. Viking Venture is an investor in View Software.