EU – Baltic States, Financial Services, Lithuania, Mergers and take-overs, Technology
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Friday, 29.03.2024, 06:06
Fitek buys Lithuania's SIS
Fitek Grupp will start offering electronic data interchange
(EDI) both in the Baltic countries and elsewhere in Europe, Fitek said.
"We expanded to the electronic data interchange
market. It is a service, which our customers ask for the most along with
electronic sales and purchase invoice solutions. This is why we decided
to make an investment in the Lithuanian IT solutions company SIStemu Intergravimo sprendimai. This company has years-long electronic data interchange business
experience in retail and wholesale, the food industry, logistics and in the
field of HoReCa," Mait Soaaru, head of Fitek Grupp, said.
Cooperation between Fitek and SIStemu Integravimo sprendimai will
strengthen the existing products portfolio and expand the customer base both in
the Baltic countries as well as on the global market as well as compete with
other companies offering similar services.
"The strategy and values of the two companies are
very similar, bringing together years' worth of experience and technological
and human resources. We have a unique joint vision concerning the
automatization of accounts management," Sooaru said.
Fitek is a
provider of financial automation processes. Its services lower the costs for
customers by optimizing and accelerating their financial processes. Fitek employs a
total of 170 people and operates in Estonia, Latvia, Lithuania and Slovakia.
The revenue of Fitek Group in the Baltic states in 2017 amounted to
14.4 million euros.