“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 service sector grew by around 2%, while total IT sector grew by around 15% during 2010. 12 out of 20 rated companies experienced growth in revenues from IT services. Main reasons for improvement cited are public sector projects cofinanced from EU funds as well as renewed demand for IT solutions from businesses.
„ELSIS” group, whose revenues from IT services grew 11,6 percent., received 19 mln. LTL (5,5 mln. EUR), stand at the ninth position in Prime TOP-20.
At the same time „ELSIS” group’s total revenues grew by impressive 56,2% and reached 20,3 mln. EUR (4th position).
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.
More information: ICT market news_may11.pdf (241.13 KB)