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International Internet Magazine. Baltic States news & analytics Friday, 08.12.2023, 09:40

Baltic IT services sector grew by around 2% in 2010

Justė Pačkauskaitė,, specially for BC, Vilnius, 25.05.2011.Print version
Prime Investment, one of the leading investment banking companies in the Baltics, has issued semi annual report Baltic ICT Market News. The report highlights important corporate and M&A events of the Baltic ICT market and provides proprietary ratings of the leading Baltic IT service companies. Baltic IT sector grew by 1.6% during 2010, and 12 out of 20 rated companies experienced growth in revenues from IT services.

The article was prepared for the Roundtable-Seminar held in the Baltic International Academy (BIA) on 27 April 2011. Its organisers: BIA, online magazine The Baltic Course, Employers' Confederation of Latvia and the Diplomatic Economic Club (DEC).


Main reasons for improvement cited are public sector projects cofinanced from EU funds as well as renewed demand for IT solutions from businesses. 


Alna Group (Lithuania) is leading the Prime TOP-20 rating in 2010 with EUR 15.5m revenues from IT services. Webmedia Group and Baltic Data Center stand at the second and third positions with EUR 14.8m ir EUR 13.0m revenue accordingly.


Prime TOP-20 Baltic IT services companies in 2010 H1, Euro '000


The ratings that are being compiled since 2002 are based on revenues from in-house developed IT services and value-adding efficiency. The ranking does not include any sales of hardware, distribution of software other than developed in-house, office equipment or other products.

Next issue of Baltic ICT Market News, containing half-year results for 2011, will be published in November 2011.


Full text of the review can be downloaded here.

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