MIL-OSI: News from INVL Technology managed companies: Novian has made full settlement for Elsis PRO acquisition

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Source: GlobeNewswire (MIL-OSI)

The Novian software and IT infrastructure services group, managed by INVL Technology, has made full settlement in the transaction to acquire the software services company Elsis PRO. It did so on 26 May this year, as per the agreements on the purchase and sale of the shares of Elsis PRO. The final value of the deal, at EUR 1.865 million, was determined after the preparation of Elsis PRO’s audited financial statements for 2021, on the basis of the EBITDA figure.

Elsis PRO had revenue of EUR 2.96 million in 2021, which was up 12.3% compared to 2020. The company’s EBITDA was EUR 382,000 and increased 39.4%, while its operating profit grew 5.3% to EUR 0.08 million.

The Novian group company Novian Systems signed the agreements to acquire 100% of the shares of Elsis PRO on 14 September 2021. The international audit firm Rӧdl & Partner audited Elsis PRO’s financial statements.

For more information, see the Novian group’s press release.

The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
E-mail k.tonkunas@invltechnology.lt

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