January 5, 2018

Fitek acquired majority of the Lithuanian company Sistemų integravimo sprendimai (SIS)

Fitek, a leading Baltic and Central European e-invoice operator, acquired the majority stake in the Lithuanian company Sistemų integravimo sprendimai (SIS), operating mainly in Lithuania. Fitek Group will enter to electronic data interchange (EDI) business and will be providing electronic data interchange (EDI) solutions in both the Baltic States and elsewhere in Europe.

Mait Sooaru, Manager of the Fitek Group: “We have entered the electronic data exchange (EDI) market. In addition to fully automated sales and purchase invoice solutions we offer, the EDI service is something our clients are the most interested in. Therefore, we decided to make an investment in SIS, which has good portfolio – it’s services fit well to our solutions. The company has years of active business experience in electronic data interchange in retail and wholesale trade, food industry, logistics and the HoReCa sector.”

In cooperation of Fitek and SIS, the existing product portfolio will be improved, and the customer base increased in both the Baltic States and on the international market to offer full scale solutions to all Fitek Group customers.

“Strategy and values of the two companies are much alike, bringing together many years of experience, as well as technological and human resources. We have a unique vision of the automated invoice processes” adds Mait Sooaru.

In 2017, Fitek Group processed more than 55 million invoices and other digital documents.

Head of Fitek Global Inbound Business Unit, Indrek Allas, will share his experience at the Estonian Accountants’ Conference on "E-invoicing and digitalization - where is the benefit?" by talking about sending and receiving e-invoices, and about the newly launched self-service platform Arved.ee. This e-invoicing platform is developing fast and will have 8,000 users by mid-October.

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Fitek has become a member of Foreign Investors Council (FIC) in Serbia.

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Fitek Group, the leading Baltic and European fintech and e-invoice solutions provider, will participate in the most important event of the year for financial leaders at the Slovakia-CFO Forum. The event will be interactive in nature, bringing together unique stories, talk shows, speaker discussions, and inspirational presentations. Fitek will be participating as the event’s Gold sponsor, as well as one of the event’s speakers.

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