Recent foreign investments

Recently we’ve seen several highlighted events, that all involve foreign investment looking to make / or even making establishments in Lithuania.

In addition to previously announced IBM’s intent to set up a joint-research center, another company – Western Union – a global player in the financial services and communications industry – announced its decision to set up their forth worldwide transactions service center. That, together with earlier established and expanding Barclay’s service center will definitely toughen Lithuania’s infrastructure to service large companies and meet high-end needs.

To further add to the rising perspective, Frost&Sullivan recently announced exploring possibilities to come to Lithuania following a brief, but very productive visit by a team of their representatives. The message comes amid recently performed expansion of Frost&Sullivan into Poland – Lithuania’s big neighbor to the southwest – which is a further indication of Lithuania’s attractiveness to contribute to any company aiming to get a foothold in the region or to expand its global infrastructure.

Closer to the business deals performed: Fermentas (profile on present VCs – Summit partners) – a biotech company often named when outlining innovative companies in Lithuania – has announced it is entering a process of being acquired by Thermo Fisher Scientific Inc., a world leading innovations company, for a preliminary amount of $260 million. It is both exciting to see a Lithuanian company to grow up to such a deal, as well as to speculate what next company will be forwarded by the beneficiaries of this deal.

Lastly, swoodoo.com – a Lithuanian plane tickets online purchasing portal – has announced it is being acquired by leading U.S. flight search engine – Kayak. The official news report does not indicate the value of the deal, but the news (quoted) says the “both the management and the investors are very happy with the financial terms”.

All these messages combined offer us a reassuring feeling about a healthy investment environment and market potential to deliver fast growing, innovation grounded companies. We expect to meet some these companies in the event on the 22nd of June in London, as well as take a look at those to make the highlights next, or even to find your next best deal.

2 comments

  1. How come swoodoo.com is a Lithuanian company? Every source I’ve managed to dig up indicates it is a Munich-based German company. I understand it has/had some kind of developer team in Kaunas, but it would seem that doesn’t make it any more Lithuanian than Barclay’s IT center in Vilnius makes Barclay’s a Lithuanian financial powerhouse. Do correct me if I’m wrong somewhere.

  2. Rokas Tamošiūnas

    Sorry for slow response, it’s likely you won’t be coming back to read it, but here goes: we don’t exactly try to uncover the subtle forms of deals and/or companies for simple respect of privacy. However, our understanding is that Swoodoo was a project ran by the team in Kaunas, which were not only IT devs but also business devs and the whole project and the company behind it has a history of ties with Germany. It is also true, that Swoodoo had local presence possibly together with certain key people of the project being German. Yet the operation was much more then just outsource and it is our understanding that the success was forget as much (if not more) on Lithuanian soil as on German, so it’s not 100% Lithuanian, but it is that as well, according to us.

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