Helmes has successfully acquired 100 percent of the shares of Infovara OÜ, a company specializing in business analytics, machine learning and planning solutions. This transaction will establish one of the strongest and most versatile AI and data services teams in the Baltics. The merger aims to enhance expertise and strengthen the ability to provide business analytics services both in Estonia and to international clients. Infovara will continue to operate as part of the Helmes Group.
According to Andres Kaljo, a member of Helmes’ management board, the move will strengthen the company’s position.
“We are thrilled to have Infovara’s highly regarded and experienced team join Helmes,” Kaljo said. “Business analytics, AI and planning software is a rapidly evolving field, and Infovara is one of the most experienced players in Estonia, providing solutions to many leading companies. While our customer-facing technology offerings have been different so far, we see great synergy potential with Infovara’s team to partner with Helmes’ Baltic and Polish teams in both domestic and international markets.”
According to Andres Kukke, a member of the management board of Infovara OÜ, the merger will set the stage for even better customer service.
“Infovara’s strength has never been just the technology but also the know-how to implement it,” Kukke said. “Helmes’ experience in scaling international software solutions creates new opportunities for us to deliver even more added value to our clients and to offer solutions built on Microsoft alongside Qlik and Jedox.”
The transaction value is undisclosed, and the merger’s finalization requires the approval of the Competition Authority, where proceedings are underway.
Infovara: Founded in 2002, Infovara has delivered more than 500 business analytics and planning solutions on Qlik and Jedox. In 2024, the company’s turnover exceeded €1 million and its clients include G4S, Konesko, Prike, Balmerk, Reitan Group, the Estonian Ministry of Finance, Wihuri, Ragn-Sells and dozens of other companies and public institutions. The Infovara team is based in Estonia.
Helmes: The unaudited turnover for 2024 exceeded €108 million and the company has around 1,500 employees. In the course of more than 33 years of operation, the Estonian company has grown into a global undertaking which develops business-critical solutions for international organisations such as Airbus, Telia, Kühne+Nagel, CERN, the European Space Agency and OECD. Helmes’ development centers are located in Estonia, Latvia, Lithuania and Poland.