BalticVC

Latvian company TestDevLab has become part of US-based Xoriant , a global provider of engineering and technology services.

The Estonian division of Finnish company Solita has become a separate company called DataSky and has joined Estonian company Uptime . DataSky will retain its team and continue to operate from its current offices in Tallinn and Tartu.

Estonian company Nortal has acquired the Middle East division of Accela , a leading provider of cloud solutions for government agencies. This will enable the company to expand its presence in the region.

Latvian company Echoo Group , which specializes in building automation and energy efficiency solutions, has joined Nordomatic, a major independent provider of building management systems services that operates in eight countries and has over 1,200 employees. The amount of the transaction has not been disclosed.

Estonian startup Striga , which develops infrastructure for cryptocurrency payments, has been acquired by US payment platform Lightspark . The amount of the deal has not been disclosed. This is an exit for YCombinator , Rhombuz VC , and other investment companies that invested in Striga in 2021.

  Estonian cybersecurity company Rangeforce has been sold to its Israeli competitor Cyberbit . The parties have not disclosed the amount of the transaction.

Lithuanian company Codigi has bought Aicore, a  specializing in AI and IT services for the manufacturing sector. The two companies have been working together for a year, and the merger will allow Codigi to integrate Aicore's solutions into its platform.

Estonian companies Nortal and SensusQ have signed a memorandum of understanding with South Korean aerospace and defense company Hanwha Aerospace to create a new high-tech battlefield management system (BMS).

Estonian company UP Catalyst has signed a partnership agreement with Finnish paint manufacturer Teknos . UP Catalyst will use its technology to convert industrial CO₂ emissions into high-quality carbon materials for paints and coatings.

Spanish energy company Repsol has acquired a 3,6% stake in Stargate Hydrogen , an Estonian company developing technology for efficient and cost-effective hydrogen production. 

Estonian fintech startup Tuum has announced a partnership with London-based payment processing platform Solidgate . Together they are creating Solidgate Treasury, a solution that will provide online companies with global access to payment systems such as SEPA and SWIFT.

Estonian company Nortal has acquired Nearsure , a U.S. software company with a customer base in the U.S. and more than 600 employees in Latin America. According to company representatives, this is the largest acquisition in Nortal's history and strengthens its presence in the U.S. market.

Lithuanian  Oxylab has bought French company ScrapingBee . The acquisition involved an undisclosed eight-figure sum.

Estonian energy startup Gridraven has signed a contract with Finland's national grid operator Fingrid . Gridraven's software will increase the capacity of the country's existing transmission lines by 30%.

Paynt , a payment technology company, has bought Canadian company E-xact Transactions . The acquisition of E-xact, which processes more than CAD 3.5B in more than 50M transactions annually, will create a new operations center in Vancouver, Canada.

Telia Eesti has bought Estonian IT company Iglu , with which it has cooperated in developing several mobile solutions, including the Mobile-ID service. Now, in addition to telecommunications, IT and cybersecurity services, Telia will now be able to offer software development capabilities to customers through Iglu.

Estonian startup Clevon has been sold to US technology company Indigo Technologies . The amount of the deal was not disclosed, but negotiations on the sale started more than a year ago, when Clevon was looking for investments in the American market.

Latvian company Digmatix (formerly Digital Mind) has signed an agreement with Estonian technology company BCS Itera to acquire 100% of its shares. The deal will bring together two regional Microsoft solutions partners, helping to increase Digmatix's competitiveness in the region, as well as expand its solution offerings in the manufacturing, retail, financial and human resources sectors.

Estonian company XData Group has announced its plans to go public on the Nasdaq exchange in the first half of 2025. The company has already signed a definitive agreement with special purpose acquisition company (SPAC) Alpha Star Acquisition Corporation (Alpha Star) for a €158.3M merger.

Canadian software company Enghouse Systems has acquired Lithuanian mobility services platform Trafi . This is an exit for Lithuanian Practica Capital , Estonian BaltCap , British Octopus Investments and European Bank for Reconstruction and Development (EBRD).