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Algoritmų Sistemos to acquire 100 per cent of Profectus Novus shares

Vilnius, Lithuania, 2016-11-17 08:30 CET (GLOBE NEWSWIRE) -- Algoritmų
Sistemos, a business managed by the IT investment company INVL Technology, will
take control of Profectus Novus, a company specialised in Microsoft
SharePoint-based solutions. An agreement on the acquisition of 100 per cent of
the shares of Profectus Novus was signed on 16 November. 

The size of the transaction is not public. Its completion is planned in the
first quarter of 2017, once permission is obtained from the Commission on
Assessment of Potential Participants Compliance with National Security
Interests. 

“We are delighted at being joined by a strong Microsoft SharePoint solutions
team. We are confident that combining our experience and competence will enable
us to boost the range and quality of our products and find new market expansion
opportunities,” said Elena Vengrienė, the CEO of Algoritmų Sistemos. 

Profectus Novus will continue to be led by Deimantas Mažukėlis, one of the
company’s founders. “We believe that upon joining the cluster of INVL
Technology managed companies our competitiveness will increase and we will be
able to implement more complex solutions and expand the geography of our
activities,” Mažukėlis said. 

Profectus Novus develops, audits and designs a variety of SharePoint systems
such as document management systems, intranet solutions, multifunctional
external portals and systems that automate the selected processes: project
management, internal procurement, arrangements for business trips and
vacations, employee trainings and examination, management of quality standards
and management of resources. 

The company mainly provides services to the companies operating in the energy,
education, agriculture, health and finance sectors as well as businesses and
groups of companies. Some of its biggest clients include Modus group, Invalda
INVL, Fima, General Financing, National Payment Agency, Litgrid, Ministry of
National Defence of the Republic of Lithuania, Technologijų ir Inovacijų
centras, Centre of Information Technologies in Education and Office of the
Seimas of the Republic of Lithuania. Profectus Novus’s revenue in 2015 was EUR
441 thousand. 

Algoritmų Sistemos develops information systems for large and medium-sized
organisations and software to automate business processes in companies. Its
main areas of activity are e-governance, e-health, finance, social security,
environmental protection, transport management, and solutions for the education
sector. 

Algoritmų Sistemos provides services to institutions and companies such as the
State Tax Inspectorate, the State Labour Inspectorate, the National Health
Insurance Fund, the Bank of Lithuania, Vilnius University, the Western Shipyard
Group, and others. The company has implemented efficient business processes and
promotes innovation as well as partnership with academia. Its revenue in 2015
was EUR 2.768 million. 

INVL Technology operates as a cluster of B2B- and B2G-oriented IT businesses
with a focus in four key areas: business climate improvement and e-governance,
IT infrastructure, cyber security and IT intensive industries’ solutions. 

INVL Technology has invested in the Norwegian company Norway Registers
Development AS with subsidiaries NRD UAB and Etronika UAB in Lithuania, Norway
Registers Development East Africa Ltd in Tanzania, Norway Registers Development
Rwanda Ltd in Rwanda, and the associated company Infobank Uganda Ltd in Uganda.
It has also invested in BAIP UAB with its subsidiary Acena UAB, NRD CS UAB and
Algoritmų Sistemos UAB, all in Lithuania, and Estonia’s Andmevara AS with its
subsidiary Andmevara SRL in Moldova. 


         The person authorised to provide additional information:
         Kazimieras Tonkūnas
         INVL Technology Managing Partner
         E-mail: k.tonkunas@invltechnology.lt