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.
The number of M&A transactions has also increased, even 21 transaction has been completed in 2007, suggesting that market participants are looking for alternatives ways to expand and indicates positive expectations towards future market conditions.
The rankings that are being compiled since 2001 are based on revenues from in-house developed IT services and value-adding efficiency. The ranking does not include any sales of hardware, distribution of software other than developed in-house, office equipment or other products.
Next issue of Baltic ICT Market News, containing annual results for 2008, will be published in October 2008
For more information please contact:
Justė Pačkauskaitė, juste@primeinvestment.lt ,
Irma Janonienė, irma.janoniene@primeinvestment.lt,
Konstitucijos ave.7, Vilnius 09308, Lithuania, tel. +370 5 2487211
* ICT – information and communication technology
