EU – Baltic States, Lithuania, Markets and Companies

International Internet Magazine. Baltic States news & analytics Thursday, 09.07.2020, 00:36

Lithuania's Maxima Group selling Polish IT firm Infinite

BC, Vilnius, 09.08.2019.Print version
Emperia Holding, a Polish company controlled by Vilnius-based Maxima Grupe, is selling its IT subsidiary, Infinite, and will plow the proceeds into expansion in Poland, informed LETA/BNS.

Poland's fintech firm DialCom24 is buying Infinite for an undisclosed amount of money, Maxima Grupe said. 

Arunas Zimnickas, CEO of Emperia Holding, the owner of the Polish retail chain Stokrotka, says the company will invest the proceeds into further development in Poland.

"Poland is a strategically important market where Maxima Grupe strengthens its retail positions. With this decision, we are focusing on our core business of retail trade; therefore, the funds received are planned to be allocated for further development in the country," he said in a press release. 

Infinite, which launched operations in 2002, employs over 220 people and posted over 50 mln zlotys (EUR 11.6 mln) in 2018.

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