News from INVL Technology managed companies: Novian revises the ownership structure of its businesses

The Novian group, which is owned and managed by INVL Technology, a company that invests in information technology businesses, has changed its internal structure. Novian Technologies signed an agreement with Novian to acquire 100% of the shares of Norway-registered Zissor AS ("Zissor"). In addition, Novian entered into an agreement with Novian Systems to acquire 100% of the shares of ELSIS PRO UAB ("Elsis PRO"). The main objective of these transactions is to optimize the companies’ management and improve their efficiency. The transactions were conducted at the market value of the companies on 31 March 2023, with the shares of Zissor priced at EUR 711,000 and the shares of Elsis PRO priced at EUR 2.013 million. It is expected that the value of Zissor and Elsis PRO will grow.

Zissor is a global provider of media monitoring solutions and media digitization software and services. Elsis PRO is a developer of information systems and software.

Additional information:

The Novian information technology group is changing the ownership structure of its companies. Through transactions within the group, Novian Technologies has acquired the shares of Norway-based Zissor and will consolidate Novian’s digitization services businesses. Additionally, to optimize the capital structure and management of the group’s software development companies, the company Novian has acquired the shares of Elsis PRO. The transactions were carried out at the companies’ value on 31 March 2023.

“For several years, Novian Technologies has been steadily building up its digitization business. The transfer of Zissor’s ownership to Novian Technologies fits that company’s strategy of developing digitization products and services and striving to expand in European countries,” said Evaldas Rėkus, the CEO of the Novian group.

Digitization services are currently provided in various countries of the world by Lithuania-based Novian Technologies and its subsidiaries Novian Eesti in Estonia and Andmevara SRL in Moldova. Zissor of Norway works together with them, providing publication digitalization services as well as media monitoring software products and services on a global scale.

According to the group's CEO, transferring Elsis PRO’s operations to Novian will not only simplify the management of the company but also optimize and bolster the capital structure of the group’s software services companies.

The Novian group’s companies operate in the areas of IT infrastructure, programming and digitization. The Novian group had aggregated revenue of EUR 33 million in 2022, which is 27.9% more than the previous year. The group’s EBITDA for the year was EUR 1.5 million and compared to 2021 contracted 11.8%. There was an operating profit of EUR 0.5 million, which is 39.9% less than the year before.

The person authorized to provide additional information:

Kazimieras Tonkūnas

INVL Technology Managing Partner

E-mail