'Helmes' Acquires 75% of 'Trinidad Wiseman' Shares

  • 2024-06-04

The "Helmes" group, which includes the IT company "Helmes Latvia," has acquired 75% of the software development company "Trinidad Wiseman," expanding its operations in the Baltic states. This strategic partnership is a significant milestone for all group companies, allowing them to combine strengths and expertise and enhance service quality. "Trinidad Wiseman" will continue to operate under its current name and management team.

The 20 years of experience of "Trinidad Wiseman" will enable the group to expand its services in areas such as service design, data analytics, user experience design, and artificial intelligence. "Baltic IT companies already demonstrate high competitiveness and a good price-quality ratio, receiving international recognition and attracting the attention of foreign investors. 'Helmes Latvia' plans to ensure a stronger presence in foreign target markets, including Germany, so we view the merger with the experienced and well-known Estonian IT company as very significant. It will undoubtedly strengthen the overall competitiveness of the group," notes Viesturs Bulāns, head of "Helmes Latvia."

"Implementing cooperation with German companies and gaining a deeper understanding of this target market, we have identified both opportunities and challenges. The geopolitical situation influences Western European entrepreneurs to look more actively towards Baltic and Latvian IT service providers. They are attracted by the experience of our IT companies and competitive industry professionals. Additionally, service prices are more competitive compared to Western European companies," adds V. Bulāns, commenting on future development plans.

Considering that at the end of 2022 the group acquired 70% of the Lithuanian company "TeleSoftas" shares, this year's expansion deal is a logical step that continues to strengthen the group's position in the Baltic state markets. The parties have agreed not to disclose the transaction amount.

"Helmes" turnover exceeded 100 million euros in 2023, and the group employs approximately 1,400 employees. Over 33 years of operation, the group has become a global company developing critical IT solutions for international organizations such as "Airbus," "Telia," "Kühne+Nagel," CERN, the European Space Agency, OECD, Ltd "Tet," the State Revenue Service, JSC "Valmiera Glass Group," and others. "Helmes" software development centers are located in Estonia, Latvia, Lithuania, and Poland.