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.
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