Helmes bought 70% of the shares of the Lithuanian company TeleSoft :: Dienas Bizness

The information technology (IT) company “Helmes” has acquired 70% of the shares of the Lithuanian company “TeleSoftas”, company representatives inform.

With the conclusion of the transaction, the “Helmes” program development team has increased to approximately 1,400 employees.

At the same time, representatives of “Helmes” state that the parties have agreed not to disclose the amount of the transaction.

Viesturs Bulāns, executive director of SIA “Helmes Latvia”, states that “IT minds from Latvia, Lithuania and Estonia are already highly valued by clients not only in Scandinavia, but also in Western Europe, so the merger means not only growth for the company, but also wider career opportunities for domestic talents”.

Commenting on the deal, Helmes partner and board member responsible for mergers and acquisitions, as well as investments, Andres Kaljo, points out that TeleSoftas has a solid customer base in Europe, and together the companies will be able to develop digital innovation services in all three in the Baltic States, as well as in other European regions.

“TeleSoftas” is one of the largest digital product development companies in Lithuania, headquartered in Kaunas. Almost 300 employees work in the company. The company’s long-term clients include such companies as “Stage”, “Viavi”, “Kurt König”, “TV 2 Denmark” and “Tele2”.

The client portfolio of “Helmes Latvia” includes the State Treasury, the State Revenue Service, the Enterprise Register of the Republic of Latvia, SIA “Tet”, JSC “Pasažieru vilciens” and many others.

In 2021, the company “Helmes Lavia” worked with a turnover of 7.803 million euros, while the company’s profit was 1.244 million euros.

The company was registered in August 1991, and its share capital is 100,000 euros. The sole owner of “Helmes Latvia” is the Estonian company “Helmes”, but the real beneficiary is Estonian citizen Jāns Pilesārs.