INVL Technology

M&A Activity • Sep 29, 2015

Disclosure 327208

INVL Technology - Notification on material event

INVL Technology decided to transferred the shares of Acena to BAIP

Vilnius, Lithuania, 2015-09-29 15:52 CEST (GLOBE NEWSWIRE) -- The Board of ICT investment company INVL Technology on 29 September 2015 decided that 100 percent shares of a specialised Microsoft solutions company Acena, UAB will be transferred to another INVL Technology managed company BAIP, UAB. The deal value is equal to the value of Acena at the end of June 2015 - EUR 412 thousand, therefore the deal will not influence INVL Technology performance indicators. The deal is implemented in order to simplify the structure and management of INVL Technology investments portfolio by linking the companies working in the field of IT infrastructure. After the share transfer, Acena will preserve its name, and Marius Leščinskas will continue serving as the CEO of the company. „BAIP and Acena have been collaborating for many years now. Together we will continue the strategic expansion in the Baltics, where we will provide integrated and managed IT services“, commented the CEO of BAIP Gytis Umantas. „We will be able to offer employee productivity improvement services and solutions that match the business needs and generate quicker investment return for the clients of both companies. We will assist them in their IT optimization, optimization and automatization of their business processes, and we will help them reduce their IT maintenance costs“, said the CEO of Acena Marius Leščinskas. The person authorized to provide additional information: Kazimieras Tonkūnas Director E-mail: k.tonkunas@invltechnology.lt