Novian Methods, a part of the Novian group owned by the IT-business funding firm INVL Know-how, signed agreements to accumulate 100% of the shares of data programs and software program developer Elsis PRO. Completion of the transaction is deliberate as soon as permissions are obtained from Lithuania’s Competitors Council and the Fee for Evaluation of Conformity of Potential Individuals to Nationwide Safety Pursuits. Its worth isn’t being made public.
Elsis PRO, a software program and data programs growth firm established in 2004, is a part of the knowledge and communication applied sciences group Elsis. In 2020, Elsis PRO had income of EUR 2.6 million, a rise of 18.3% in comparison with 2019. Its EBITDA final yr was EUR 275,000, or 2.2 instances the earlier yr’s quantity. Elsis PRO makes a speciality of growing and implementing options for the aviation, transportation, vitality, and public sectors. In 2020, 56% of its income was from tasks carried out in European Union nations.
Novian Methods, a part of the Novian group owned by the IT-business funding firm INVL Know-how, is shopping for the knowledge programs and software program developer Elsis PRO. The agreements to that impact have been signed on 14 September. The worth of the transaction to accumulate 100% of the corporate’s shares isn’t being made public. It is going to take impact as soon as permissions are obtained from Lithuania’s Competitors Council and the Fee for Evaluation of Conformity of Potential Individuals to Nationwide Safety Pursuits.
“This acquisition will increase the Novian group’s software program growth competencies in aviation, transport, vitality and different fields. Our plan is for the group’s software program companies firms to proceed working independently after the transaction is accomplished, although on the similar time we count on synergies with them in bigger tasks in European Union and NATO nations,” stated Evaldas Rėkus, the CEO of the Novian group.
Elsis PRO’s progress can be ensured by its present crew of pros and managers. The corporate’s present chairman, Arūnas Gedvila, will proceed to serve on its board and the CEO can be Rimvydas Jančiauskas. Becoming a member of the board, it’s deliberate, can be INVL Know-how Managing Associate Kazimieras Tonkūnas, Artūras Zdanavičius, who’s the top of the INVL Know-how group’s finance firm FinTime, and Evaldas Rėkus, who together with the Novian group additionally heads Novian Methods and Andmevara AS.
Established in 2004, Elsis PRO presently is a part of the Elsis group. The corporate had income of EUR 2.6 million in 2020, a rise of 18.3% in comparison with 2019. Elsis PRO’s EBITDA final yr was EUR 275,000, or 2.2 instances the quantity the yr earlier than. Of its 2020 income, 56% was from overseas. Elsis PRO has created options and merchandise within the fields of aviation and danger administration, is doing a challenge with companions on the Hong Kong airport, and in Lithuania is conducting tasks on the Finance Ministry, the Monetary Crime Investigation Service, and the State Tax Inspectorate.
The Novian IT infrastructure and software program companies group had aggregated income of EUR 24.1 million in 2020, or 2.6% greater than in 2019. Its aggregated EBITDA was EUR 1.8 million and grew 14.9% in comparison with 2019. The Novian group’s web revenue final yr, excluding nonrecurring and atypical losses within the worth of investments, was EUR 0.6 million and elevated 54.5% from the earlier yr. Novian operates within the Baltic nations, Norway and Moldova. This yr the group’s firms are finishing up tasks in 32 nations of the world.
The particular person approved to offer further info:
INVL Know-how Managing Associate