Prime Investment, one of the leading investment banking companies in the Baltics, has issued semi annual report Baltic ICT Market News. The report highlights important corporate and M&A events of the Baltic ICT market and provides proprietary ratings of the leading Baltic IT service companies.

Baltic IT sector decreased by 3% in the first half of 2010.  11 out of 20 rated companies experienced a decrease in revenues from IT services. Majority of companies faced the consequences of continuous saving and postponed or cancelled IT installation projects.

INFO-TEC Paslaugų centras sold it‘s scanning business to Itella Information. The deal was closed on 20 April this year. 20 employees joined Itella team and will continue providing services to the most important clients.

Prime Investment, one of the leading investment banking companies in the Baltics, has issued semi annual report Baltic ICT Market News. The report highlights important corporate and M&A events of the Baltic ICT market and provides proprietary ratings of the leading Baltic IT service companies.

According to Prime Investment, IT service revenues of Prime TOP-20 companies have declined by 4,7% in the first half of 2009 as compared to the same period in 2008. Total income of the rated companies decreased by 21%.

PBO House, a company involved in business process outsourcing activities, successfully completed the first development stage and acquired BPT Paslaugos, a company providing accounting and payroll services.

According to data analysed by Prime Investment, the income of IT companies rated in Prime TOP-20 grew by 12% in 2008. This indicates a decrease of growth by one third. Some companies managed to keep their growth levels by increasing the product range or establishing themselves in new markets. Meanwhile, others did not reach the sales levels of 2007 because of IT budget cuts and termination of new projects. One third of surveyed companies (7 out of 20 in „Prime Top-20“) earned less in 2008 than in 2007.

 

Prime Investment, one of the leading investment banking companies in the Baltics, has issued semiannual report Baltic ICT* Market News. The report outlines important corporate and M&A events of Baltic ICT market and provides proprietary rankings of the leading Baltic IT service companies.

Prime Investment, one of the leading investment banking companies in the Baltics, has issued semiannual report Baltic ICT Market News. The report outlines important corporate and M&A events of Baltic ICT market and provides proprietary rankings of the leading Baltic IT service companies. Combined revenues of Prime’s Top 20 companies grew by 34.2% in 2007. IT sector growth has been more than 20% for the last 4 consecutive years. Exigen Services again secured the 1st place with IT services revenue of more than EUR 26.9m. It was followed by Lattelecom and Alna with revenue of EUR 16.8m and EUR 16.4m respectively.