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NRD Cyber Security – a cybersecurity company
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Novian – a leading Baltic IT company
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NRD Companies – a global GovTech player
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News

  • Enlight Research revises target price for INVL Technology’s shares
    2025-05-05
    Enlight Research revises target price for INVL Technology’s shares

    Enlight Research updated its valuation of INVL Technology, a company that invests in IT businesses, following the publication of operating results for 2024. The target price for INVL Technology’s shares was raised to EUR 4.12 from EUR 4.01 per share. Before publication of the Enlight Research update report, INVL Technology’s share price on the Nasdaq…

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  • INVL Technology had a net asset value of EUR 51.36 million at the end of the first quarter
    2025-04-30
    INVL Technology had a net asset value of EUR 51.36 million at the end of the first quarter

    The equity and the net asset value of INVL Technology, a company that invests in IT businesses, were EUR 51.36 million at the end of March this year, or EUR 4.2767 per share. The figures decreased by 0.1% and 0.3%, respectively, from the start of the year. The company had an unaudited net loss of…

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  • INVL Technology’s shareholders approve 2024 operating results and share-buyback procedures
    2025-04-30
    INVL Technology’s shareholders approve 2024 operating results and share-buyback procedures

    The shareholders of INVL Technology, a company investing in IT businesses, approved the company’s operating results for 2024, procedures for the acquisition of own shares, and a new Audit Committee composition. INVL Technology had an audited net profit of EUR 8.09 million in 2024, 56.6% more than in 2023. The company’s equity and net asset…

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  • INVL Technology shareholders to vote on procedures for acquisition of own shares
    2025-04-08
    INVL Technology shareholders to vote on procedures for acquisition of own shares

    The shareholders of INVL Technology, a company that invests in IT businesses, will vote on procedures for the acquisition of own shares, the company’s operating results for 2024, and the new composition of the Audit Committee. The annual general meeting of the company’s shareholders will be held on 30 April. INVL Technology had an audited…

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About Us

  • INVL Technology operates as a closed-end fund (CEF) which invests in and develops European IT businesses. The company is headquartered in Vilnius and is listed on the Nasdaq Vilnius stock exchange.
  • INVL Technology owns 3 company groups: Novian (a leading Baltic IT company), NRD Companies (a global GovTech company), and NRD Cyber Security (a cybersecurity company).
  • On 14 July 2016, the Bank of Lithuania granted INVL Technology a permit to operate as a CEF for 10 years with a possible extension for 2 more years. The company is managed by INVL Asset Management.
INVL Technology operates as a closed-end fund (CEF) which invests in and develops European IT businesses. The company is headquartered in Vilnius and is listed on the Nasdaq Vilnius stock exchange.
INVL Technology owns 3 company groups: Novian (a leading Baltic IT company), NRD Companies (a global GovTech company), and NRD Cyber Security (a cybersecurity company).
On 14 July 2016, the Bank of Lithuania granted INVL Technology a permit to operate as a CEF for 10 years with a possible extension for 2 more years. The company is managed by INVL Asset Management.
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Compliance

1
INVL Technology operates under a closed-end investment company permit issued in 2016 by the Bank of Lithuania, which is responsible for its supervision.
2
INVL Technology's accounting is in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and, as an investment entity, it is subject to IFRS 10.
3
Each year, certified independent valuation professionals assess the value of INVL Technology's asset holdings. In 2022, the valuation was performed by Deloitte Verslo Konsultacijos.
4
The company's operations are audited annually. The 2022 audit was carried out by PwC.
5
The company’s shares are listed on the Nasdaq Vilnius (INC1L).
6
The companies that INVL Technology owns have a formal policy for selecting appropriate business partners.
7
INVL Technology is managed by INVL Asset Management.
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Value Creation

INVL Technology focuses on creating value through organic growth.
Aggregated revenue of companies managed by INVL Technology (thousands of euros)
R&D is a key priority for INVL Technology. In 2019-2023 its companies invested EUR 2.6 million in the development of proprietary products, software and methodologies.
Investment in R&D (millions of euros)

Legal Structure

Timeline

INVL Technology operational strategy is divided into 3 principal stages: investment period (2016-2021), value creation period (2021-2024), exit period (2024-2026) with an optional extension till 2028.
2015
2015
  • INVL Technology and BAIP Group merge and continue operations as INVL Technology.
  • INVL Technology raises 10 million euros in a public offering of new shares.
  • Norway Registers Development (now NRD Companies) acquires a majority stake in Etronika.
Investment period
2016
Investment period
2016
  • INVL Technology obtains permit and starts operating as a closed-end fund (CEF).
  • INVL Technology acquires Algoritmų Sistemos (now Novian Systems).
  • INVL Technology acquires Andmevara.
2019
2019
  • INVL Technology completes the formation of Novian.
  • Novian acquires Zissor.
2020
2020
  • INVL Technology completes the formation of NRD Companies.
Investment period
2021
Investment period
2021
  • A Novian group company acquires Elsis PRO.
Exit period
2024
Exit period
2024
  • Start of exit.
2026*
2026*
  • Exit
    * 2-year extension is possible.

Contact Us

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