News from INVL Technology managed companies: Novian revises the ownership structure of its businesses
05 Julio 2023 - 8:05AM
News from INVL Technology managed companies: Novian revises the
ownership structure of its businesses
The Novian group, which is owned and managed by
INVL Technology, a company that invests in information technology
businesses, has changed its internal structure. Novian Technologies
signed an agreement with Novian to acquire 100% of the shares of
Norway-registered Zissor AS ("Zissor"). In addition, Novian entered
into an agreement with Novian Systems to acquire 100% of the shares
of ELSIS PRO UAB ("Elsis PRO"). The main objective of these
transactions is to optimize the companies’ management and improve
their efficiency. The transactions were conducted at the market
value of the companies on 31 March 2023, with the shares of Zissor
priced at EUR 711,000 and the shares of Elsis PRO priced at EUR
2.013 million. It is expected that the value of Zissor and Elsis
PRO will grow.
Zissor is a global provider of media monitoring
solutions and media digitization software and services. Elsis PRO
is a developer of information systems and software.
Additional information:
The Novian information technology group is
changing the ownership structure of its companies. Through
transactions within the group, Novian Technologies has acquired the
shares of Norway-based Zissor and will consolidate Novian’s
digitization services businesses. Additionally, to optimize the
capital structure and management of the group’s software
development companies, the company Novian has acquired the shares
of Elsis PRO. The transactions were carried out at the companies’
value on 31 March 2023.
“For several years, Novian Technologies has been
steadily building up its digitization business. The transfer of
Zissor’s ownership to Novian Technologies fits that company’s
strategy of developing digitization products and services and
striving to expand in European countries,” said Evaldas Rėkus, the
CEO of the Novian group.
Digitization services are currently provided in
various countries of the world by Lithuania-based Novian
Technologies and its subsidiaries Novian Eesti in Estonia and
Andmevara SRL in Moldova. Zissor of Norway works together with
them, providing publication digitalization services as well as
media monitoring software products and services on a global
scale.
According to the group's CEO, transferring Elsis
PRO’s operations to Novian will not only simplify the management of
the company but also optimize and bolster the capital structure of
the group’s software services companies.
The Novian group’s companies operate in the
areas of IT infrastructure, programming and digitization. The
Novian group had aggregated revenue of EUR 33 million in 2022,
which is 27.9% more than the previous year. The group’s EBITDA for
the year was EUR 1.5 million and compared to 2021 contracted 11.8%.
There was an operating profit of EUR 0.5 million, which is 39.9%
less than the year before.
The person authorized to provide additional
information:Kazimieras TonkūnasINVL Technology Managing
PartnerE-mail k.tonkunas@invltechnology.lt
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