INVL Technology - Notification on material event

INVL Technology announced as a winner in Estonia Andmevara privatization auction

Vilnius, Lithuania, 2016-03-31 15:23 CEST (GLOBE NEWSWIRE) -- Investment in
information technology businesses company INVL Technology was announced the
winner at the privatisation auction of Estonian IT company Andmevara. 

Financial advisor of the Transaction Redgate Capital announced the decision of
the Estonian Ministry of Interior on 30th March 2016. 

The transaction is expected to be completed in April, once the share
acquisition agreement is signed. The value of the deal depends on the amount of
dividends paid out to the Estonian State, and will be announced after the
acquisition is completed. 

Andmevara is a complex IT solutions and services provider to public sector
organisations with expertise in e-Government solutions that include development
of registries, important national information systems and software,
digitisation, database development and hosting services. The Company was formed
in 1997 based on a former governmental organisation Riigiarvutuskeskus, the
history of which dates back to 1970. 

Andmevara actively contributes to implementation of Estonian E-Government
project, offers several ready-made software products to municipal and
governmental institutions, and mostly serves Estonian public sector
organisations. From 2002 until 2015, the Company processed the Estonian
Population Registry, which was transferred to the Ministry of the Interior IT
and Development Centre (SMIT) in 2016, as a part of the effort to consolidate
certain IT functions of the State. 

Andmevara has a subsidiary company in Moldova.

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. 

The largest INVL Technology investments currently are companies in Lithuania,
Norway, Tanzania, Uganda and Rwanda: Norway Registers Development AS with
subsidiaries NRD UAB, ETRONIKA UAB, Norway Registers Development East Africa
Ltd, Norway Registers Development Rwanda Ltd and Infobank Uganda Ltd, BAIP UAB
with subsidiary Acena UAB and NRD CS UAB. 




         The person authorized to provide additional information:
         Kazimieras Tonkūnas
         Director
         E-mail: K.Tonkunas@invltechnology.lt