Published: 2022-09-28 12:25
Algirdas Stonys, UAB “Telesoftas” shareholder. photo of Vladimir Ivanovs (VŽ).
Paulius Grinkevičius
“Business News”
Helmes, an international software development and consulting company headquartered in Estonia, acquired 70% of the shares of the information technology UAB TeleSoftas. The transaction, implemented for an undisclosed sum, aims to strengthen the cooperation between the companies.
The rest of the shares – 30% – will continue to belong to TeleSoft’s founder Algirdas Stonis, according to the press release.
It is said that there will be no merger of the brands – TeleSoft will keep its current name and will continue to work with existing customers as usual.
“I believe that our partnership with Helmes will help both business and government organizations to go even faster on the path of digital transformation”, A. Stonys is quoted in the report.
He tells VŽ that the company is not planning any special changes after the deal. One of the possibilities is to apply a model that allows employees to receive more profit from projects.
According to A. Stonis, the company, which now has about 300 colleagues, plans to hire about 60 by the end of the year, some of them in Nigeria.
According to the data of the Registry Center, last year Telesoft grew its revenue by 7%, up to 12.4 million. EUR, earned about 12,000 net profit. The company has branches in Vilnius, Kaunas, Klaipėda and the Nigerian city of Abuja.
Helmes has about 1,500 employees.
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Tags: consulting company Helmes acquired controlling stake Telesoft
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