Indian Ideal Invent sets up regional unit in Vilnius

22 June 2009

Ideal Invent, an Indian IT firm, has opened its second European office in Vilnius after Stockholm. The Lithuanian namesake will be involved in support and delivery functions for the firm's entire European customer base. It will also serve as a springboard for Ideal Invent's Eastern European expansion. "From Vilnius we will mostly provide application services that allow customers to use our software over the net instead of buying expensive licences," says Mats Esbjornsson, Stockholm-based managing consultant at Ideal Invent, to news2biz LITHUANIA.

Founded in 2005, Ideal Invent specializes in IT solutions for the banking, financial services and insurance sectors. In Europe the firm's customers are a major savings bank in Spain and DnB Nord, a Baltic Sea region banking group, and a few more undisclosed players. "We will start with a small team of 4-5 of staff and a substantial investment," says Mr Esbjornsson. As the business picks up, we will hire more IT staff. Cooperation with other IT firms that focus on serving the financial services market

are part of our growth strategy, and we are currently in talks with two such players with a global presence."

In Vilnius Ideal Invent has found "an attractive mix of low costs and high service quality. Although the other two Baltic capitals offer similar conditions, our first projects in

the region took place in Lithuania, so we've decided to have our base here," explains Mr. Esbjornsson.

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