Latvia's Digital Mind buys Lithuanian Alna Business group

Digital Mind AS, a Latvian business process digitalization specialist for large and mid-sized organizations in Baltic states, announced May 23 that it has acquired a 100% stake in Alna Business UAB, Alna Business Solutions UAB, and its subsidiary in Poland Alna Business Solutions Sp. z o.o (referred to as Alna Business group), a leading Enterprise Resource Planning (ERP) solution provider in Lithuania and Poland that specializes in Microsoft Dynamics and SAP software solutions and services.  

Alna Business group was previously owned by Holdco A UAB, a business management company controlled by Orion Asset Management and the Milaknis family.  

The acquisition was financed with credit provided by BPM Capital and Digital Mind’s own cash.   

"The acquisition will allow Digital Mind to significantly extend its content and process automation product portfolio by adding software solutions for Enterprise Resource Planning and Financial Management, thus becoming a one-stop-shop provider of critical business applications for clients in private and public sectors in 3 Baltic countries and Poland. Company’s offices will be in Riga, Vilnius, Tallinn and Warsaw, the planned consolidated revenue of 2022 will reach approx. 12 million Euro and team will exceed 160 professionals," a company statement said.  

“We believe that due to increasing labor shortage and market disruptions caused by the war, organizations in our region would intensify implementation of intelligent technology solutions to support their sustainable business practices and resilience to rapidly changing environment. Our strategy is to offer integrated products and services that support all of the organization’s critical business functions, and strong ERP competence was missing in our portfolio. We are truly impressed by the competence, customer loyalty and service quality Alna Business group's team has formed in more than 20 years of their operations, and we strongly believe that similarities in both companies’ values and growth ambitions will form a solid foundation for becoming a Baltic champion in enterprise business application solutions,” said Rinalds Sluckis, CEO of Digital Mind 

In Lithuania and Poland, company will continue operating under Alna Business brand name and will be led by its longtime CEO Darius Bužinskas.  

Digital Mind will immediately start offering Microsoft Dynamics and SAP ERP solutions and services to its existing and new clients in Latvia and Estonia, and provide its content and process automation products to Alna Business group’s existing customer base of more than 300 organizations in Lithuania and Poland.  

Founded in 2005, Digital Mind provides business application solutions to clients in finance, insurance, logistics, retail, telecommunications, manufacturing, construction, and other industries from offices in Riga and Tallinn.

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