International digital innovation company Helmes acquired 70% of shares in Lithuanian software engineering house TeleSoftas. The purpose of the transaction is to strengthen cooperation and offer services of highly qualified specialists for the development of large international projects.
The rest of the shares will continue to belong to the founder of TeleSoftas, Algirdas Stonys. The brands will not be merged. TeleSoftas will keep the name and continue to work with existing customers as usual.
“We are excited to join forces with Helmes and exchange the best both companies have learned during decades of helping businesses and governments digitally transform. This is another stage of TeleSoftas journey and I, as well as the whole team, are happy to continue it with such a strong partner“ said Algirdas Stonys, founder of TeleSoftas.
Commenting on the deal, Andres Kaljo, Helmes partner and management board member in charge of M&A and new investments, said that TeleSoftas is a growing company with a solid client base in Europe and strong in-house team.
“We have very similar company culture and value base with TeleSoftas - we both have an ingrained people-first approach to everything. We also appreciate their strong business model and focus on long-term collaboration both with employees and customers. We welcome the talented and ambitious people of TeleSoftas to Helmes, thanks to them we are able to grow our digital innovation services in all three Baltic states as well as other European regions.”
The parties have agreed not to disclose the price of the transaction.
TeleSoftas has been successfully providing product engineering services for over 18 years. Today TeleSoftas is one of the biggest digital product engineering houses in Lithuania, headquartered in Kaunas with close to 300 employees in Lithuania. The long-term customers are companies like Stage, Viavi, Kurt König, TV 2 Denmark and Tele2.
Helmes is an international digital innovation partner headquartered in Tallinn, whose major customers are global organisations and multinational companies, for example the OECD, CERN, Airbus, Kühne+Nagel, SEB, Telia Company, Solera, ServiceChannel. Helmes was founded in 1991. Now the Helmes Group employs ca 1500 people. Although it is one of the major employers in the Estonian software sector, more than three fourths of its staff are living and working elsewhere.