On October 20, 2011 UAB BAIP Group (Lithuania) has signed a share purchase agreement to acquire a 100% stake in AS Norway Registers Development (Norway). The transaction was closed on November 28, 2011 after the consent of the Competition Council of the Republic of Lithuania was received.
The Norwegian company AS Norway Registers Development specializes in designing, implementation and management of register projects in various emerging markets such as Vietnam, Bhutan, Azerbaijan, Macedonia, Guatemala, Rwanda, Liberia, Malawi, Zanzibar, Kenya, Mozambique, Sudan, Madagascar, the Solomon Islands, Vanuatu etc., whereas World Bank, Asian Development Bank and The United Nations Industrial Development Organization (UNIDO) act as major initiators and supporters.
AS Norway Registers Development owns 70,1% in the Lithuanian subsidiary UAB NRD that has offices in Vilnius and Kaunas with widely experienced specialists in register strategies, exploitation, contemporary information system design and other related IT services.
UAB BAIP Group is a medium sized IT investment company in Lithuania. BAIP Group also owns critical IT infrastructure company BAIP, a specialized Microsoft licensing and solutions company Acena and a specialized workplace maintenance and design company Informatikos Pasaulis. 80 percent of BAIP Group share capital is owned by one of the largest Lithuanian investment companies AB Invalda.
BIC Securities acted as an exclusive financial advisor to shareholders of AS Norway Registers Development.
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