Vitec Software Group
Thesis
Vitec Software is the largest vertical market software company in the Nordics, with impressive growth metrics, including over 20% revenue CAGR and over 30% EBITDA CAGR over the last five years. Despite being overshadowed by Constellation Software, Vitec has delivered even better total shareholder returns over the last decade, making it an attractive investment opportunity.
Did it work?
The pitch is a long thesis based on Vitec Software's historical growth metrics (20%+ revenue CAGR, 30%+ EBITDA CAGR) and its superior decade-long shareholder returns versus Constellation Software. No time elapsed and no price performance data are available, so there is no way to assess whether the investment thesis played out in the market. The thesis also cites no specific forward catalyst that could be independently confirmed or invalidated.