INVL Technology has fully implemented its three-direction business structure

The businesses owned by INVL Technology, a company that invests in IT businesses, from now on will operate in three areas. This structure, under formation since 2018, was fully implemented at the end of this year upon the creation of an IT services and software group. Besides that group, businesses which the company owns, also operate in the areas of business climate improvement and e-governance, and cybersecurity.
 
INVL Technology completed the formation of the Novian group of IT services and software businesses in late December this year when, after the carrying out of internal business acquisitions, the amended articles of association of Novian UAB and BAIP UAB were registered at Lithuania’s Centre of Registers.
 
“Following the reorganisation, the Novian group’s companies will expand the range of services they provide and will be able to meet clients’ needs to implement complex projects, since clients will be able to get more services from a single source,” said Kazimieras Tonkūnas, INVL Technology’s managing partner.
 
In forming the Novian group, internal acquisitions were made: Novian UAB acquired Algoritmu Sistemos UAB, Algoritmu Sistemos UAB acquired the Estonian company Andmevara AS from INVL Technology, and BAIP UAB, which is owned by Novian UAB, acquired the Estonian company Andmevara Services OU along with Andmevara SRL in Moldova.
 
The transactions were carried out as per the values of the businesses at 30 September 2019. INVL Technology’s investment committee made the decision allowing the combination of IT services and software businesses into the Novian group on 29 October 2019.
 
The Novian group consists of BAIP UAB, Acena UAB and Algoritmu Sistemos UAB, which operate in Lithuania, Andmevara AS and Andmevara Services OU of Estonia, Moldova’s Andmevara SRL, and Norway’s Zissor AS.
 
With the Novian group having been formed, the software companies Algoritmu Sistemos and Andmevara AS will work together and exchange know-how on tax administration, machine learning, waste management, e-health, e-democracy, smart city, education, regulation and other areas.
 
The group’s providers of IT infrastructure services have joined forces in the Baltics. Clients of BAIP and Acena in Lithuania now have access to the software-as-a-service (SaaS), website-hosting and historical-document digitisation services offered by Andmevara Services OU and Andmevara SRL.
 
Andmevara Services OU’s portfolio of services in Estonia is strengthened by BAIPs’ and Acena’s solutions for supercomputing, critical IT infrastructure and resilience, IT resource optimisation, business analytics and process automation, and with the ability to offer uninterrupted customer service. Zissor is continuing its regular operations and contributing to the group’s expansion and will introduce combined group-company services in Norway and other Nordic countries.
 
The reorganisation of group companies will also make it possible to offer clients comprehensive digital-transformation projects like the transformation of IT systems into new-generation technologies or the practical application of high-performance computing, artificial intelligence and Internet of Things technologies and systems in organizations.
 
The completion of the Novian group’s reorganization puts fully in place the structure of three business directions that INVL Technology has been forming since the start of 2018: business climate improvement and e-governance, IT services and software, and cybersecurity.
 
Operating in the area of business climate improvement and e-governance is the Norwegian company NRD Companies AS with its subsidiaries: Norway Registers Development AS of Norway with a Lithuanian subsidiary, NRD Systems UAB and Etronika UAB of Lithuania, Norway Registers Development East Africa Ltd in Tanzania, Norway Registers Development Rwanda Ltd in Rwanda, NRD Bangladesh Ltd in Bangladesh, and the associate company Infobank Uganda Ltd in Uganda.
 
Working in the area of IT services and software is the Lithuanian company Novian UAB with its subsidiaries: Zissor AS of Norway and Algoritmu Sistemos UAB and BAIP UAB in Lithuania. Subsidiaries of BAIP include Acena UAB in Lithuania, Andmevara Services OU in Estonia and Andmevara SRL in Moldova, while Algoritmu Sistemos owns the Estonian company Andmevara AS. Operating in the area of cybersecurity is NRD CS UAB.
 
In July 2016, INVL Technology began to operate as a closed-end investment company. Its management was assumed by INVL Asset Management – a part of Invalda INVL, one of the leading asset management groups in the Baltics. INVL Technology will operate as a closed-end investment company until 14 July 2026.

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