Latvian Digital Mind AS announces acquisition of Lithuanian ERP solution professionals Alna Business group

  • 2022-05-26

Digital Mind AS, a business process digitalization specialist for large and mid-sized organizations in Baltic states, announced that it has acquired a 100% stake in Alna Business UAB, Alna Business Solutions UAB, and its subsidiary in Poland Alna Business Solutions Sp. z o.o (referred to as Alna Business group), a leading Enterprise Resource Planning (ERP) solution provider in Lithuania and Poland that specializes in Microsoft Dynamics and SAP software solutions and services.  

Alna Business group was previously owned by Holdco A UAB, a business management company controlled by Orion Asset Management and Milaknis family.  

The acquisition was financed with credit provided by BPM Capital and Digital Mind’s own cash.   

The acquisition will allow Digital Mind to significantly extend its content and process automation product portfolio by adding software solutions for Enterprise Resource Planning and Financial Management, thus becoming a one-stop-shop provider of critical business applications for clients in private and public sectors in 3 Baltic countries and Poland. Company’s offices will be in Riga, Vilnius, Tallinn and Warsaw, the planned consolidated revenue of 2022 will reach approx. 12 million Euro and team will exceed 160 professionals.  

“We believe that due to increasing labor shortage and market disruptions caused by the war, organizations in our region would intensify implementation of intelligent technology solutions to support their sustainable business practices and resilience to rapidly changing environment. Our strategy is to offer integrated products and services that support all of the organization’s critical business functions, and strong ERP competence was missing in our portfolio. We are truly impressed by the competence, customer loyalty and service quality Alna Business group's team has formed in more than 20 years of their operations, and we strongly believe that similarities in both companies’ values and growth ambitions will form a solid foundation for becoming a Baltic champion in enterprise business application solutions” Rinalds Sluckis, CEO of Digital Mind 

“This is a big move for the Alna Business group of companies in terms of market reach and new possibilities but it is also a rather comfortable shift for our team which will get new tools and capabilities while carrying-on with our usual core business operations. Our ERP experience clicks finely into the set of highly professional services provided by Digital Mind and we are looking forward to moving in sync and building upon each other. Moreover, the deal brings us additional potential for further expansion in Poland and other countries in Central Europe” Darius Bužinskas, CEO of Alna Business group. 

In Lithuania and Poland, company will continue operating under Alna Business brand name and will be led by its longtime CEO Mr. Darius Bužinskas.  

Digital Mind will immediately start offering Microsoft Dynamics and SAP ERP solutions and services to its existing and new clients in Latvia and Estonia, and provide its content and process automation products to Alna Business group’s existing customer base of more than 300 organizations in Lithuania and Poland.  

Digital Mind’s financial and deal advisor was BIC Securities, legal advice was provided by drill. and Walless law offices. Sellers’ legal advisor was Cobalt.  

About Digital Mind: since 2005 Digital Mind provides business application solutions to clients in finance, insurance, logistics, retail, telecommunications, manufacturing, construction, and other industries, with extensive knowledge in Enterprise Content Management (ECM), Intelligent Process Automation (RPA), and low-code Cloud Business Application development. From offices in Riga and Tallinn, company sells and implements software products from leading technology vendors OpenText Corp. and Microsoft Corp. and applies its process digitalization competencies to create measurable client value.    

About Alna Business group: Alna Business has been implementing and maintaining Enterprise resource planning (ERP) solutions for more than two decades. Today the company prides itself in being renowned as Microsoft Dynamics and SAP experts with a dedicated team of more than 100 certified world-class professionals with over 700 ERP projects delivered to clients in 20 countries.