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Lithuanian IT company Sintagma appoints BIC to find trade investor

Sintagma, the Lithuanian system integration and software development company, has mandated Baltic Investment Company to help evaluate strategic options, said a source close to the company. Sintagma is located in Vilnius, and is currently controlled by its founders.

The source said that owners may be looking for a sector investor interested in its blue chip client base and complex project management capabilities, as well as near-shoring development options in the Baltics, Belarus and Ukraine.

Sintagma, established in 1991, is a focused system integration solutions provider with budgeted revenue of EUR 5.5m for 2006, employing 74 software professionals. Its vertical competencies include Schengen (EU), Environment, Transport and Education related work as well as solutions for libraries and archives, insurance, media and auto-dealers sectors. Main partners of the company are IBM and Oracle. Sintagma plans to implement CMMI SW/SE in 2007.

Baltic Investment Company is a leading Baltic M&A boutique.

(Source: mergermarket)

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