News

INVL Technology will purchase 0.88% of its own shares

INVL Technology, a company that invests in IT businesses, on 27 October this year announced a buyback of its own shares which took place through 10 November via the Nasdaq Vilnius exchange. The purchase price offered by the company was EUR 2.74 per share.

Enlight Research analysis on 2nd quarter: INVL Technology’s revenue was increased by the cyber security business NRD CS

The investment research firm Enlight Research has published an analysis of the financial results of the listed private equity fund INVL Technology for the second quarter of this year. The report notes that,despite a weaker than expected result for the NRD group as a whole, the cyber security firm NRD Cyber Security (NRD CS) exceeded estimates as its sales grew by 115% to EUR 1.3 million, nearly double Enlight’s forecast of EUR 0.7 million.

INVL Technology holding Novian group company seeks to acquire Elsis PRO

Novian Systems, part of the Novian group owned by the IT-business investment company INVL Technology, has signed agreements to acquire 100% of the shares of information systems and software developer Elsis PRO. Completion of the transaction is planned once permissions are obtained from Lithuania’s Competition Council and the Commission for Assessment of Conformity of Potential Participants to National Security Interests. Its value is not being made public.

Enlight Research analysis on 2020: All INVL Technology’s companies posted stable growth

The investment research firm Enlight Research has published a report on the annual financial results of the listed private equity fund INVL Technology. The analysis notes that despite COVID-19 INVL Technology improved on all metrics in 2020 posting higher sales, profits, and NAV. The share was rewarded accordingly with a gain of 18% in 2020 and 12% so far in 2021.

INVL Technology earned a net profit of EUR 4.8 million in 2020

INVL Technology, a company that invests in IT businesses, had equity of EUR 34 million at the end of 2020, or EUR 2.77 per share. Equity per share increased 16.46% during the year. The value of INVL Technology’s financial assets at the end of the reporting period was EUR 32.65million and increased EUR 6.74 million in the year. The company’s 2020 net profit, after revaluation of assets and provisions, was EUR 4.8 million, while its earnings per share was EUR 0.39.

Acena has been merged into Novian Systems

The Novian IT infrastructure and software services group has strengthened its information systems development company Novian Systems. Having merged Acena, a provider of business analytics and process automation solutions, into itself, Novian Systems offers a broader range of software services. Within the group, software services are also provided by the Estonian company Andmevara AS.

Managers of the INVL Technology portfolio company NRD Cyber Security will get option incentives

The managers of NRD Cyber Security, a cybersecurity company owned by the IT business investment company INVL Technology, will be given the incentive of options to acquire shares of the company. The Investment Committee of INVL Technology agreed that the managers of NRD Cyber Security will be able to acquire up to 10% of the company’s shares and thus participate in the increase of the company’s value.

Novian gathers main group companies under its own name, will provide integrated services

As digital transformation gains momentum, the Novian IT infrastructure and software services group aims to strengthen its positions internationally and increase value for clients by offering integrated services. For that purpose, Novian’s main companies, BAIP and Algoritmu Sistemos, have changed their names and as of 8 of December began operating as Novian Technologies and Novian Systems respectively. A new Novian group webpage is also launching: www.novian.io.

Enlight Research third-quarter report: INVL Technology’s revenue grew

The investment research firm Enlight Research has published a report on the third-quarter financial results of the listed private equity fund INVL Technology. The analysis notes that for a second quarter in a row INVL Technology’s revenue grew steadily and was up 22% from the same period a year earlier. According to Enlight Research, that is further proof that the technology sector can grow during a pandemic.

NRD Cyber Security net profit grew 28% in the last 9 months

The revenue of a cybersecurity consulting and technology development company NRD Cyber Security amounted to 1 million 781 thousand euros in the first three quarters of this year and remained at a similar level compared to the same period last year.Based on unaudited data, the company's EBITDA at the end of the third quarter of this year was 274 thousand euros - 44% more than during the same period last year. During the three quarters of this year, NRD Cyber Security earned 128 thousand euros net profit - during the same period of 2019 the company had earned 100 thousand euros net profit.

NRD Companies revenue grew 15% in the last 9 months

NRD Companies, a group of companies specialising in global information technology and consulting, reports that its consolidated 9-month revenue of 2020, as compared with the same period last year, grew from EUR 4.735 thousand to EUR 5.465 thousand, with its net unaudited profit currently at EUR 298.6 thousand, compared with a net loss of EUR 160.2 thousand last year.

Novian’s revenue growth helped by ability to adapt to pandemic conditions too

The companies in the Novian IT infrastructure and software group had aggregated revenue of EUR 17.4 million in the first three quarters of this year or 13.7% more than in the same period of 2019. The aggregated EBITDA of the group’s companies was EUR 1.5 million, which is 2.7 times more than in three quarters of 2019. The Novian group had a net profit for the period of EUR 0.8 million versus a net loss of EUR 0.3 million in the same period last year.

Novian to be led by Evaldas Rėkus

The IT infrastructure and software group Novian will be led by the new CEO Evaldas Rėkus. He has replaced Artūras Zdanavičius, who held the role on an interim basis. The Novian group includes seven companies which are owned by the company Novian and operate in three areas. Novian’s companies in the Baltic countries, Norway and Moldova have roughly 180 employees in total.

NRD Cyber Security results for 2020 H1

The revenue of cybersecurity consulting and technology development company NRD Cyber Security in the first half of this year amounted to 962 000 euros and decreased by 29% compared to the same period last year. According to unaudited data, the company's EBITDA in the first half of this year was 39 thousand euros. Compared to the first half of 2019, it decreased six times. During the first half of this year, NRD Cyber Security suffered 57 000 euros net loss - during the same period of 2019, 176 000 euros net profit.