INVL Technology — M&A Activity 2017

Apr 19, 2017

ALGORITMU SISTEMOS UAB and Profectus novus UAB terminate the transaction on the acquisition

ALGORITMU SISTEMOS UAB and Profectus novus UAB terminate the transaction on the acquisition

19 April 2017 the shareholders of Algoritmu Sistemos, a business managed by the IT investment company INVL Technology, and shareholders of Profectus novus agreed to terminate the transaction on the acquisition of the shares of Profectus novus.

Taking into account outlook of joint activities the parties agreed that Profectus novus will continue to operate independently.

An agreement on the acquisition of 100 per cent of the shares of Profectus novus was signed on 16 November 2016.