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NRD Cyber Security – a cybersecurity company
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Novian – a leading Baltic IT company
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NRD Companies – a global GovTech player
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News

  • NRD Companies reports strong first half performance with revenue up 15 percent and EBITDA rising 57 percent
    2026-10-21
    NRD Companies reports strong first half performance with revenue up 15 percent and EBITDA rising 57 percent

    October 21st, 2026 Vilnius, Lithuania, NRD Companies, a global software development and consulting group specializing in Digital Public Infrastructure, GovTech and FinTech solutions, generated consolidated revenue of EUR 6.42 million in the first half of 2026, an increase of 15 percent compared with the same period last year. EBITDA rose by 57 percent to EUR…

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  • The decision of the management company of INVL Technology on the purchase of own shares
    2026-10-08
    The decision of the management company of INVL Technology on the purchase of own shares

    The management company of INVL Technology (hereinafter – “the Company“), UAB INVL Asset Management, taking into account that the Company has formed and not realised the reserve for the purchase of own shares amounting to EUR 9.8 million and considering the resolution of the General Shareholders Meeting of the Company held on 30 April 2026,…

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  • INVL Technology launches its third share buy-back of the year
    2026-10-08
    INVL Technology launches its third share buy-back of the year

    INVL Technology, a company that invests in IT businesses, is launching a share buy-back, allocating EUR 3 million for the programme. The share buy-back will run from 9 to 28 October. The maximum number of INVL Technology shares to be acquired is 544,000, representing 4.5% of the share capital. The shares will be repurchased at…

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  • NRD Cyber Security continued to grow during the first half of 2026
    2026-10-02
    NRD Cyber Security continued to grow during the first half of 2026

    In the first half of 2026, revenue at NRD Cyber Security, a Lithuanian-owned cybersecurity consulting, services, and technology company, increased by 3.3 percent compared to the same period in 2025, reaching 6.2 million euros. Normalised EBITDA, which reflects operational efficiency, increased by 22 percent to 1.1 million euros compared to the first half of 2025….

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About Us

  • INVL Technology operates as a closed-end fund (CEF) which invests in and develops European IT businesses. The company is headquartered in Vilnius and is listed on the Nasdaq Vilnius stock exchange.
  • INVL Technology owns 3 company groups: Novian (a leading Baltic IT company), NRD Companies (a global GovTech company), and NRD Cyber Security (a cybersecurity company).
  • On 14 July 2016, the Bank of Lithuania granted INVL Technology a permit to operate as a CEF for 10 years with a possible extension for 2 more years. The company is managed by INVL Asset Management.
INVL Technology operates as a closed-end fund (CEF) which invests in and develops European IT businesses. The company is headquartered in Vilnius and is listed on the Nasdaq Vilnius stock exchange.
INVL Technology owns 3 company groups: Novian (a leading Baltic IT company), NRD Companies (a global GovTech company), and NRD Cyber Security (a cybersecurity company).
On 14 July 2016, the Bank of Lithuania granted INVL Technology a permit to operate as a CEF for 10 years with a possible extension for 2 more years. The company is managed by INVL Asset Management.
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Compliance

1
INVL Technology operates under a closed-end investment company permit issued in 2016 by the Bank of Lithuania, which is responsible for its supervision.
2
INVL Technology's accounting is in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and, as an investment entity, it is subject to IFRS 10.
3
Each year, certified independent valuation professionals assess the value of INVL Technology's asset holdings. In 2022, the valuation was performed by Deloitte Verslo Konsultacijos.
4
The company's operations are audited annually. The 2022 audit was carried out by PwC.
5
The company’s shares are listed on the Nasdaq Vilnius (INC1L).
6
The companies that INVL Technology owns have a formal policy for selecting appropriate business partners.
7
INVL Technology is managed by INVL Asset Management.
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Value Creation

INVL Technology focuses on creating value through organic growth.
Aggregated revenue of companies managed by INVL Technology (thousands of euros)
R&D is a key priority for INVL Technology. In 2021-2025 its companies invested EUR 4.9 million in the development of proprietary products, software and methodologies.
Investment in R&D (millions of euros)

Legal Structure

Timeline

INVL Technology operational strategy is divided into 3 principal stages: investment period (2016-2021), value creation period (2021-2024), exit period (2024-2028).
2015
2015
  • INVL Technology and BAIP Group merge and continue operations as INVL Technology.
  • INVL Technology raises 10 million euros in a public offering of new shares.
  • Norway Registers Development (now NRD Companies) acquires a majority stake in Etronika.
Investment period
2016
Investment period
2016
  • INVL Technology obtains permit and starts operating as a closed-end fund (CEF).
  • INVL Technology acquires Algoritmų Sistemos (now Novian Systems).
  • INVL Technology acquires Andmevara.
2019
2019
  • INVL Technology completes the formation of Novian.
  • Novian acquires Zissor.
2020
2020
  • INVL Technology completes the formation of NRD Companies.
Investment period
2021
Investment period
2021
  • A Novian group company acquires Elsis PRO.
Exit period
2024
Exit period
2024
  • Start of exit.
2026
2026
  • The term has been extended for a period of two years.
2028
2028
  • Exit

Contact Us

Send us an email using the form below.
Send us an email using the form below.

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