Discover on the phrases of the reorganisation of Novian Programs UAB and ELSIS PRO UAB

INVL Technology

INVL Expertise

In accordance with Article 65(1) of the Republic of Lithuania Regulation on Firms, Novian Programs UAB ir ELSIS PRO UAB, managed by INVL Expertise, hereby notify of the phrases of the reorganisation of Novian Programs UAB, code: 125774645, registered workplace tackle: Vilnius, Gynėjų Str. 14, and ELSIS PRO UAB, code: 300064148, registered workplace tackle: Vilnius, Baltupio Str. 14, on the premise of which ELSIS PRO UAB is merged with Novian Programs UAB, that’s persevering with operations. 100% of the shares of Novian Programs UAB are held by Novian UAB. 100% of shares of ELSIS PRO UAB are held by Novian Programs UAB.

The reorganisation interval will proceed till the reorganization is accomplished, i. e. till a brand new model of the Articles of Affiliation of Novian Programs UAB, which can function after the reorganisation, is registered within the Register of Authorized Entities.

Novian Programs UAB will take over all belongings, rights, and obligations of ELSIS PRO UAB, the entire rights and obligations of ELSIS PRO UAB by transaction will likely be transferred to Novian Programs UAB, transactions of ELSIS PRO UAB will likely be included within the monetary accounting of Novian Programs UAB on the finish of the day of the completion of the reorganization, with out signing acts of acceptance and switch confirming this.

Each shareholder and creditor is given the chance to get acquainted with the Phrases of Reorganisation, the challenge of a brand new model of the Articles of Affiliation of Novian Programs UAB, and monetary experiences by prior settlement in Vilnius at Gynėjų Str. 14, additionally within the digital publication issued by the Register of Authorized Entities. Further data is accessible by electronic mail

On the premise of Article 66(2) of the Republic of Lithuania Regulation on Firms, collectors of the businesses could submit their claims from the primary day of publication of the phrases of reorganisation till the day of the overall assembly of shareholders the agenda whereof gives for the adoption of a choice on reorganisation of the related firm.

Further data:

The IT providers group Novian is consolidating its software program improvement capabilities. The group’s software program service suppliers Novian Programs and Elsis PRO will likely be merged and proceed as Novian Programs. The choice to merge the businesses was authorized by the Funding Committee of INVL Expertise, which owns the Novian group, on 19 January. As per that call, phrases have been submitted to the Lithuania’s Centre of Registers for a reorganisation wherein Elsis PRO will probably be merged into Novian Programs. Completion of the method is deliberate on the finish of March this 12 months.

“By combining two firms with nice expertise, we’re creating new potential throughout a variety of competencies: from tax administration, municipal initiatives and threat administration to options for the defence, aerospace and aviation industries. We imagine that this transfer will allow us to accentuate innovation in these areas, together with the event of synthetic intelligence and massive knowledge applied sciences, thereby rising worth for our clients,” stated Evaldas Rėkus, the CEO of the Novian group and of Novian Programs.

He stated the merger may even enable Novian Programs to develop the geography of its operations. Its Baltic initiatives will likely be complemented by initiatives in different European Union nations. As a single, bigger firm, its weight and competitiveness in the marketplace will improve. Will probably be capable of perform bigger and extra complicated initiatives, be extra energetic internationally and take part in initiatives funded by the European Union.

After the merger, Evaldas Rėkus will stay the CEO of Novian Programs, whereas Rimvydas Jančiauskas, who’s presently the CEO of Elsis PRO, would be the Managing Director.

On completion of the merger, Novian Programs will assume the obligations of Elsis PRO. “We purpose to make the transition to joint operation as easy as doable so the method has minimal influence on ongoing initiatives,” Rimvydas Jančiauskas stated, including that there will likely be no main adjustments for patrons or companions as a result of merger.

It’s deliberate through the merger to sharpen the enterprise instructions inside the firm by pooling competencies and adapting the group’s construction accordingly. The merger is estimated to have a constructive monetary impact as it should allow optimisation of enterprise processes and administrative prices.

Following the merger, Novian Programs’ portfolio of competencies will likely be augmented by Elsis PRO’s personal experience in synthetic intelligence, clever knowledge trade and massive knowledge analytics. Novian Programs till now has centered on customized programs improvement, synthetic intelligence, knowledge analytics, massive knowledge, and course of robotics, and has carried out nationwide and municipal initiatives in addition to enterprise analytics and course of automation options.

Novian Programs and Elsis PRO had aggregated income of EUR 6.93 million in 2021, or 8.8% greater than in 2020. Their EBITDA in 2021 was EUR 0.67 million and grew 0.7% in comparison with the earlier 12 months. Elsis PRO, established in 2004, joined the Novian group on the finish of 2021, with 100% of its shares owned by Novian Programs following an acquisition.

The Novian software program and IT infrastructure providers group had aggregated income of EUR 25.8 million in 2021 which was 7.1% greater than in 2020. The group’s EBITDA in 2021 was EUR 1.7 million and shrank 3.5% in comparison with 2020. Working revenue of EUR 0.81 million was down 18.3% year-on-year. The Novian group additionally contains the businesses within the Novian Applied sciences space and Zissor.

The individual approved to offer further data:
Kazimieras Tonkūnas
INVL Expertise Managing Associate


Author: pauadu

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