The IT services and software businesses owned by INVL Technology, a company that invests in IT businesses, will be combined into the Novian group. For that purpose, internal business acquisitions within the group are planned, with the legal reorganisation to be completed by the start of 2020. INVL Technology’s investment committee made the decision allowing the combination of businesses into the Novian group on 29 October.
“In creating this group, we aim to address clients’ need to implement complex projects. After the reorganisation, the Novian group’s companies will continue to provide their services and attend to existing clients, and those clients will be able to get more services from a single source,” said Kazimieras Tonkūnas, INVL Technology’s managing partner.
When the reorganisation is complete, the Novian IT services and software group will operate in two areas in the Baltic countries – IT infrastructure and software development, while the company Zissor, which it owns, will continue and further develop its regular operations while also contributing to the group’s expansion and offering combined group-company services in Norway and other Nordic countries.
The providers of IT infrastructure services will join forces in the Baltics. Clients of BAIP and Acena in Lithuania will gain access to the SaaS (software as a service), website hosting and historical-document digitisation services offered by Andmevara Services OU and Andmevara SRL.
Meanwhile, Andmevara Services OU’s portfolio of services in Estonia will be strengthened with BAIPs’ and Acena’s solutions for supercomputing, critical IT infrastructure and resilience, IT resource optimisation, business analytics and process automation, also gaining the ability to offer uninterrupted customer service.
The software companies Algoritmu Sistemos and Andmevara AS will also work together and exchange know-how on tax administration, machine learning, waste management, e-health, e-democracy, smart city, education, regulation and other areas. Their clients will have access to the competencies and solutions of all the group’s businesses.
According to Tonkūnas, 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.
“We believe the reorganisation of the Novian group will make it possible to meet new client needs and strengthen our clients’ competitiveness as well as the group’s positions in the Baltic and Nordic markets, thereby increasing the value of the group’s businesses,” Tonkūnas said.
Completion of the Novian group’s reorganization will put fully in place the structure of three business directions that INVL Technology has been forming since the start of 2018: IT services and software, business climate improvement and e-governance, and cybersecurity.
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.