Cobalt has advised Novian Group company Novian Systems on the acquisition of information systems and software developer Elsis PRO.
Financial details were not disclosed.
The Novian Group, operating in the Baltic countries and Norway, works in three business areas: IT infrastructure, software services, and digitization.
Established in 2004, Elsis Pro has been part of the Elsis Group. Elsis Pro creates solutions and products in the fields of aviation and risk management. The company’s projects have been implemented at Hong Kong Airport and Lithuania's Ministry of Finance, Financial Crime Investigation Service, and Tax Inspectorate.
"We are delighted with the addition of Elsis PRO. It will not only expand the Novian group’s software development competencies and capabilities in the fields of aviation, transport, and energy but will also mark the start of a strategic partnership with the Elsis group," commented Novian Group CEO Evaldas Rekus.
The Cobalt team Consisted of Partner Juozas Rimas and Associate Augustinas Petkevicius.