International Internet Magazine. Baltic States news & analytics
Thursday, 21.08.2014, 23:00
IT outsourcing company Stream Networks has acquired one of Latvia's first Internet companies, Latnet Serviss; after their merger, the joint company will be the second largest provider of telecommunications services in Latvia's corporate sector, according to an announcement released by the companies on Thursday, cites LETA/Nozare.lv.
Keyword tags: Internet, Latvia, Legislation, Mergers and take-overs, Technology
One of the world's leading energy management companies Schneider Electric will invest about EUR 10 million into the construction of a new Lexel factory in Latvia, Schneider Electric spokeswoman in Baltics Santa Rutka informed the business portal Nozare.lv, cites LETA.
CSC (NYSE-CSC), a global leader in next-generation IT services and solutions, continues to carry out plans for growth in Lithuania. Through 2015, as a result of the project “Vilnius DC Expansion“ 100 new technology employment positions will be created in CSC Baltic IT Services Center which was opened six years ago, informed BC company’s press service.
Baltic ICT Market review, launched by the Prime Investment, indicates that Latvian companies have become successful service providers with high potential in export. According to the research data, local data center operator DEAC reached the largest growth in revenue from IT services, becoming one of the fastest growing companies among major Baltic ICT service providers, informed marketing and development department group leader at DEAC Alina Zizina.
The Latvian social network Ask.fm has been bought by the owners of Tinder and Ask.com for an undisclosed fee, reports LETA, referring to the BBC.
Estonia's new Ambassador to the Republic of Kazakhstan Jaan Reinhold presented his credentials to Kazakh President Nursultan Nazarbayev on Tuesday; in the discussion that followed the ceremony, President Nazarbayev expressed concern over the situation in Ukraine, Public Broadcasting reports.
Every year over 1,000 students finish information technology (IT) studies in Lithuania; however, according to businessmen, it is not enough to meet the current demand of IT specialists in the country, reports LETA/ELTA.
Retail trade company Cenuklubs.lv increased it turnover by 12% in 2013, according to information provided by Firmas.lv, cites LETA/Nozare.lv.
In 2014, Enterprise Lithuania, public entity, and community Startup Lithuania are continuing the successful Startup Lithuania Roadshow, which was launched in 2013. As part of the project, the country's most promising startups will travel to San Francisco, Tel Aviv, London, Dublin and Helsinki in autumn to look for investments, informs LETA/ELTA, referring to Startup Lithuania.
While Estonian television audiences were most drawn to football world championships and the song and dance festival broadcasts on public television ETV in July, the privately-owned Kanal 2 managed to keep its lead in overall ratings, Public Broadcasting cites TNS Emor TV audience monitoring, informs LETA.
According the analysis of market research firm GfK Retail and Technology, Estonians bought in the first six months of this year 173,400 mobile phones worth a total of 33.7 mln euros, informs LETA Public Broadcasting.
Analysis of the Household Budget Survey data compiled by the Central Statistical Bureau of Latvia (CSB) shows that in 2013 refrigerators, TV sets and mobile phones were the most popular durable goods used by households.
MTG TV Latvia operated with EUR 1.32 million in losses in 2013,informs NOZARE.LV/LETA reffering the company's public relations head Marta Zandersone.
Last year, the production volume in the Estonian electronic and electrical equipment manufacturing sector grew at constant prices by 8% and as compared to 2012, both sales and export growth accelerated a bit, informs LETA reffering to Estonian economy and communications ministry.
The international financial magazine "Global Finance" has named "SEB banka's" internet bank the best in Latvia for the second consecutive year. The winners were selected by a world-class judging panel who assessed the possibilities customers have and the level of service, informs LETA.