As part of strategic restructuring in a cluster of companies owned by INVL Technology, NRD Companies sold most of the shares of NRD Bangladesh to NRD Cyber Security.
On October 1st 2021, NRD Companies and NRD Cyber Security have signed a deal under which 98% of NRD Bangladesh shares were sold to NRD Cyber Security, which previously owned 1% of shares. After this deal, NRD Companies has a stake of 1% in NRD Bangladesh.
Both NRD Companies and NRD Cyber Security are part of an IT-business investment company, INVL technology. The goal of the business restructuring was to separate and concentrate all cyber security expertise of INVL technology under NRD Cyber Security.
“A company in Bangladesh was established under a consistent strategy of NRD Companies at that time – to provide cyber security consulting services. We completed numerous significant projects in that country. But the company group evolved, acquired other capabilities, expanded the scope of geography,” commented Mindaugas Glodas, CEO at NRD Companies. “Today we are a group that focuses its attention on several segments: financial, governmental, and retail. We create specialized IT solutions in those sectors and consult our clients all over the world.”
“Our sister company, NRD Cyber Security, is focused solely on cyber security. Therefore, we made a strategic decision to sell NRD Bangladesh to NRD Cyber Security. They are truly experts of top-grade competence,” continued Mr. Glodas.
NRD Cyber Security already has experience in Bangladesh cyber security market. Experts of the company have established a national computer emergency response team (CIRT), have been active at establishing a national laboratory of cyber forensics. According to Vilius Benetis, CEO at NRD Cyber Security, a naturally growing demand for cyber security services in Bangladesh was one of the key reasons to strengthen the capabilities of NRD Cyber Security in that market.