Baltic ICT market news- Spring 2013
Baltic IT sector grew by 11% during 2012, less than 29% reported by Prime Investment for the year 2011. “Unlike the previous year, there were no large M&A transactions in IT services sector in 2012, which would have had a major impact on the sector‘s overall growth statistics. However, companies like Estonia-based Santa Monica Networks, Latvian DEAC and Rix Technologies and Lithuanian Atea and NFQ continue to suprise with impressive growth rates of over 25% for several consecutive years. Even the leaders of the top 20 list (Nortal, Affecto Lietuva, Lattelecom Technology) have been able to maintain healthy revenue growth rates“, - noted Vygandas Jūras, Associate Partner of Prime Investment.
Fifteen out of top 20 companies experienced growth in revenues from IT services, as well as growth in staff numbers. Software solutions developers Nortal and Tieto Baltics top the list in terms of IT services revenue. Elion, Estonian integrated telecommunications services provider, is the third largest IT services company, reporting its revenue from IT services after successful integration of Microlink AS into its holding company.
The 2012 Baltic ICT Market News also includes ranking of major Baltic IT service providers by segments: software development, professional services and IT infrastructure services. The largest companies in each of these respective segments in 2012 were Nortal, Affecto Lietuva and Elion. As part of a ten year anniversary of the Survey, a review of the annual Baltic IT companies’ submissions over the last 10 years is provided.
Full text of the Baltic ICT Market News is available at
For more information please contact
Zita Ambrutytė,
Tel.: +370 5 2487211, mob. tel.: +370 616 51951
* ICT – information and communication technology