Exsitec sells 55% of the company to Standout Capital.

Exsitec, a Linköping, Sweden-based company providing business system software to medium sized companies in Sweden, announced that Standout Capital had acquired 55% of the company.

The financial details of the transaction remain undisclosed.

Exsitec, led by CEO Johan Kallblad, specializes in enterprise systems including ERP, business intelligence and mobile solutions, helping medium-sized customers choosing the right IT systems along with implementation and support. The company has 120 employees and a customer base of over 500 companies across several industries, including many renowned enterprises including Fonus, Linas Matkasse and Tele2 Business.

Standout Capital was founded in 2014 by Fredrik Arnander, Klas Hillström and Erik Wästlund, and closed a SEK 1bn ($110M) investment fund at the beginning of 2017.