Algoritmų Sistemos, a business managed by the IT investment company INVL Technology, will take control of Profectus Novus, a company specialised in Microsoft SharePoint-based solutions. An agreement on the acquisition of 100 per cent of the shares of Profectus Novus was signed on 16 November.

The size of the transaction is not public. Its completion is planned in the first quarter of 2017, once permission is obtained from the Commission on Assessment of Potential Participants Compliance with National Security Interests.

“We are delighted at being joined by a strong Microsoft SharePoint solutions team. We are confident that combining our experience and competence will enable us to boost the range and quality of our products and find new market expansion opportunities,” said Elena Vengrienė, the CEO of Algoritmų Sistemos.

Profectus Novus will continue to be led by Deimantas Mažukėlis, one of the company’s founders. “We believe that upon joining the cluster of INVL Technology managed companies our competitiveness will increase and we will be able to implement more complex solutions and expand the geography of our activities,” Mažukėlis said.

Profectus Novus develops, audits and designs a variety of SharePoint systems such as document management systems, intranet solutions, multifunctional external portals and systems that automate the selected processes: project management, internal procurement, arrangements for business trips and vacations, employee trainings and examination, management of quality standards and management of resources.

The company mainly provides services to the companies operating in the energy, education, agriculture, health and finance sectors as well as businesses and groups of companies. Some of its biggest clients include Modus group, Invalda INVL, Fima, General Financing, National Payment Agency, Litgrid, Ministry of National Defence of the Republic of Lithuania, Technologijų ir Inovacijų centras, Centre of Information Technologies in Education and Office of the Seimas of the Republic of Lithuania. Profectus Novus’s revenue in 2015 was EUR 441 thousand.

Algoritmų Sistemos develops information systems for large and medium-sized organisations and software to automate business processes in companies. Its main areas of activity are e-governance, e-health, finance, social security, environmental protection, transport management, and solutions for the education sector.

Algoritmų Sistemos provides services to institutions and companies such as the State Tax Inspectorate, the State Labour Inspectorate, the National Health Insurance Fund, the Bank of Lithuania, Vilnius University, the Western Shipyard Group, and others. The company has implemented efficient business processes and promotes innovation as well as partnership with academia. Its revenue in 2015 was EUR 2.768 million.

INVL Technology operates as a cluster of B2B- and B2G-oriented IT businesses with a focus in four key areas: business climate improvement and e-governance, IT infrastructure, cyber security and IT intensive industries’ solutions.

INVL Technology has invested in the Norwegian company Norway Registers Development AS with subsidiaries NRD UAB and Etronika UAB in Lithuania, Norway Registers Development East Africa Ltd in Tanzania, Norway Registers Development Rwanda Ltd in Rwanda, and the associated company Infobank Uganda Ltd in Uganda. It has also invested in BAIP UAB with its subsidiary Acena UAB, NRD CS UAB and Algoritmų Sistemos UAB, all in Lithuania, and Estonia’s Andmevara AS with its subsidiary Andmevara SRL in Moldova.