“Andmevara Services” becomes “Novian Eesti” with a focus on integrated IT services and digitization

Effective 7 June, the Estonian IT company Andmevara Services OÜ has changed its name to Novian Eesti OÜ. Acting under the name of the Novian international software development and IT infrastructure services group, the company continues to provide IT infrastructure and digitization services and also represents the group’s other IT services and solutions. At the same time, a website presenting the group’s services has launched at

Novian has made full settlement for Elsis PRO acquisition

The Novian software and IT infrastructure services group has made full settlement in the transaction to acquire the software services companyElsis PRO. It did so on 26 May this year, as per the agreements on the purchase and sale of the shares of Elsis PRO. The final value of the deal, at EUR 1.865 million, was determined after the preparation of Elsis PRO’s audited financial statements for 2021, on the basis of the EBITDA figure.

INVL Technology had a net profit of EUR 2.6 million in 2021

INVL Technology, a company that invests in IT businesses, had equity of EUR 36.125 million at the end of 2021, which is 7.1% more than a year earlier. Equity per share at the end of 2021 was EUR 2.9936 and, taking the buy-back of own shares into account, increased 8.1% in the year. The company had a net profit last year of EUR 2.6 million, compared to EUR 4.8 million in 2020.

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.