TGS Baltic has advised shareholders Squalio Group on the sale of its shares to information technology solutions and services provider Softline.
Founded in 1997 in Latvia, data technology company Squalio Group has representative offices in ten countries around the world. The company is Microsoft Corporation's partner in software licensing and cloud services.
Softline is an information technology solutions and services provider focused on emerging markets of Eastern Europe, the Americas, and Asia, offering end-to-end technology solutions, public and private clouds, software and hardware provisioning, and associated services.
"Squalio’s mission is to partner with and guide individuals and companies towards a sustainable digital environment," Squalio CEO Sandis Kolomenskis commented. "By joining forces with Softline, another fast-growing tech company, we are confident that the expanded portfolio breadth, customer and market reach, and investment capacity will support us in achieving our goals."
"We are excited to have acquired Squalio as they have developed a dominant licensing business through first-class licensing expertise and certifications with key strategic vendors, such as Microsoft, Adobe, Oracle, IBM, Google, and other cloud and security solutions leading players," Softline Global CEO Sergey Chernovolenko added. "As we continue to expand our presence in Eastern Europe and the Baltics through a strategy that balances acquisitions and organic growth, we are thrilled to have the opportunity to grow alongside Squalio in the coming years."
The TGS Baltic team included Partner Nauris Grigals and Associate Kaspars Treilibs.
TGS Baltic did not respond to our inquiry on the matter.