Estonian company AS Andmevara has been reorganized by separating activities

AS Andmevara, an IT services company operating in Estonia and Moldova, has been reorganized by separating activities and demerged into two companies: Andmevara AS and Andmevara Services OÜ.
 
IT infrastructure maintenance, website hosting and digitisation services have been separated from Andmevara AS into the new company Andmevara Services OÜ. Andmevara AS will continue focusing on the main activity of the company - development of information systems.
 
According to the CEO of Andmevara Giedrius Cvilikas, the reorganization of the company was carried out in seeking to consolidate INVL Technology managed IT infrastructure and information system development companies in Lithuania and Estonia and continue forming IT services and programming group Novian.
 
“In this way, we will make use of each company’s skills and experience, which are currently successfully applied in the markets of the Baltic States and which have potential for expansion to Scandinavia. In addition, we will be able to offer new services to current customers of Andmevara”, says Mr Cvilikas.
 
It is intended that eventually another INVL Technology managed company - critical IT infrastructure services company BAIP - will acquire Andmevara Services OÜ, thus strengthening and expanding BAIP activities in Estonia, while Andmevara AS will be acquired by Novian - a company that manages BAIP.
 
“BAIP’s knowledge, skills and partnerships will enable Andmevara Services OÜ to offer a variety of innovative solutions in the Estonian market, for example - artificial intelligence and supercomputing capabilities, also – critical IT infrastructure design and migration services”, commented Mr Cvilikas.
 
Currently, BAIP is implementing IT infrastructure maintenance projects in all three Baltic countries for customers in banking and retail sectors. Partnership with Andmevara Services OÜ will ensure even better local customer service in Estonia, and will allow the company to expand its range of services to existing and future clients.
 
According to Mr Cvilikas, after implementation of the acquisition deals, the companies will seek cooperation and business development opportunities with other Novian group companies, additional acquisitions will also be considered.
 
General Manager of BAIP Gytis Umantas has been appointed as the CEO of Andmevara Services OÜ, and Giedrius Cvilikas will continue serving as the CEO of Andmevara AS.
 
The rest of Andmevara AS team will remain unchanged, just some of the employees will be transferred to the newly created Andmevara Services OÜ. Both newly formed teams will also be strengthened by employing new professionals.
 
ABOUT AS ANDMEVARA
AS Andmevara as an IT services company, which offers wide range of services ranging from customer support to software developing and from digitization to hosting services. The company has nearly 20 years of experience with state owned registers, the largest of them being the population register. One of the fastest growing business lines today is services and IT-solutions for municipalities and for other non-profit organizations.
 
AS Andmevara is a part of the INVL Technology group of companies. INVL Technology is a closed-end investment company which invests in IT businesses and is listed on the Nasdaq Vilnius exchange. INVL Technology's companies operate in 9 countries and have completed projects in more than 50 countries. More information:  www.invltechnology.lt

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