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. 

Exigen Services (Latvia) is still leading the Prime TOP-20 rating with EUR 8.6m half year revenues from IT services. Webmedia Group and Baltic Data Center stand at the second and third positions with EUR 6.9m ir EUR 6.3m revenue accordingly.

The ratings that are being compiled since 2002 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 2010, will be published in July 2011.

For more information please contact:

Ms Justė Pačkauskaitė, juste@primeinvestment.lt
Tel.: +370 5 2487211, mob. tel.: +370 618 24729

* ICT – information and communication technology