IT service sector has contracted in 2009. The slowdown is most notable for companies specialized in public sector projects. IT service revenues of the companies, that provided data and got into TOP-20 ranking, have dropped by 8.7%. This is a notable contrast to 11.8% growth in 2008. 13 out of 20 companies experienced a decline in IT service revenues and for 5 of them the drop increased 20%. According to market participants, the loss of revenue is most notable for companies that specialized in public sector projects, while their peers with wider market diversification lost less or even sustained growth in 2009.

 

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%.
 

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

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.

IT sector growth has been accelerating for the last 4 consecutive years. In 2007 H1 IT sector growth continues, market conditions remains strong. Number of M&A transactions has also increased, suggesting that market participants are looking for alternatives ways to expand and indicates positive expectations towards future market conditions.

Prime Investment, one of the leading investment banking companies in the Baltics, based in Lithuania, has issued semiannual report Baltic ICT Market News. The report enlightens important 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 region, based in Lithuania, has issued its semi-annual report “Baltic ICT Market News”.

Prime Investment, one of the leading investment banking companies in the region, based in Lithuania, has issued its semi-annual report “Baltic ICT Market News”.