INVL Technology - company, investing in IT businesses. After the merger of asset management and information technology businesses INVL Technology, AB and BAIP group, AB, in February 2015, the later continues operating under the name INVL Technology, AB.
Companies managed by INVL Technology, in 2014 increased unaudited consolidated revenues by 14 percent to EUR 16.7 million (LTL 57.8 million), profit before taxes, amortization and depreciation by 34 percent to EUR 1.7 million (LTL 5.98 million), and net profit by 152 per cent to EUR 0.96 million (LTL 3.3 million).
"Growth was achieved due to expansion in Lithuanian and foreign markets", - said director of INVL Technology Kazimieras Tonkunas. In 2014, the biggest projects of BAIP, UAB, managed by INVL Technology include: a cloud computing solution between Lithuania and Belarus (value of the project EUR 0.65 million (LTL 2.274 million)), magnetic tape libraries at the Bank of Lithuania, renewed for EUR 0.5 million (LTL 1.755 million), and National Open Access Research Data Archive MIDAS infrastructure design and implementation.
Specialized cyber security company NRD CS established the first commercial Cybersecurity Incident Response Team in the Baltics - NRD CIRT which became a full member of an international organisation FIRST (the Forum of Incident Response and Security Teams). NRD CIRT is also a listed member of Trusted Introducer.
In Africa, INVL Technology companies implemented the Burundi Central Bank data center modernization project as well as the development of Mozambique companies register and Mauritius registers development project. They also modernized IT infrastructure at the Central Bank of Zimbabwe, finished Viet Nam business Registers modernization project in Southeast Asia.
INVL Technology from start of its activities in April 2014, when the company was split-off from an asset management and investment company Invalda LT, earned EUR 1.47 million (LTL 5.1 million) of net profit due to increase in value of managed companies. INVL Technology is scheduled to be quoted on NASDAQ Vilnius Stock Exchange in March 2015. Trading in INVL Technology shares (a company which ceased its activities), was suspended from 29 January 2015 (inclusively). The initial capitalisation of the company operating after the merger reached EUR 8.146 million. Recalculated price per share should reach EUR 1.33.
According to K. Tonkunas, in 2015 INVL Technology will apply for a closed-end investment company licence issued by the Bank of Lithuania, and aim to raise more than EUR 10 million for new investments.
The largest INVL Technology investments currently are companies in Lithuania, Norway and Tanzania: 100 percent of BAIP, a critical IT infrastructure services company, Microsoft licensing company Acena, Norway Registers Development operating in Norway together with its Lithuanian information systems design and development company NRD as well as its daughter company in Tanzania Norway Registers Development East Africa Ltd, and specialized cyber security company NRD CS. Managed companies specialize in business climate improvement reforms, design of the integrated national information systems, resilience of critical IT infrastructure, national cyber security and cyber defense and implement projects in over 50 countries in Central and Eastern Europe, East Africa and other regions.