Span Acquires GT Tarkvara, the Leading Estonian Microsoft Partner

Span signed a purchase agreement acquiring 100% of shares in GT Tarkvara, Tallinn, Estonia. The estimated value of the transaction is EUR 11.4 with the part of the purchase price subject to adjustment, depending on the business results of GT Tarkvara in 2023 and 2024. GT Tarkvara is a leading Estonian licensing and software asset management company with more than 25 years of experience. The latest Span acquisition is finalized only a year after the acquisition of Ekobit, a Croatian software company.

Span’s new acquisition confirms its strategic course to further growth and expansion to new markets. The Baltic and Scandinavian countries are extremely digitally advanced and show a growing need for additional expertise in area of cloud and cyber security where Span is internationally recognized.

“With this acquisition, Span is entering the market of Estonia, one of the most digitally developed countries in Europe. The expertise and market position of GT Tarkvara combined with our advanced cloud and cyber security services are a perfect foundation for further growth and business development in North European markets,” said Nikola Dujmović, the founder and President of the Management Board of Span.

GT Tarkvara is a reliable partner to the largest companies in the software industry, like Microsoft, Adobe, Veritas, Citrix, Symantec, VMWare, and others. It has recorded a continuing growth of revenue over years and is focused on projects related to digital transformation, cloud and cyber security. In addition to the private sector, it is also strongly positioned in the public and educational sector.

”Span and GT Tarkvara are leading Microsoft partners and with this acquisition we have combined our extensive know-how and experience. I am happy that our existing customers will now have access to advanced cloud and cyber security services based on Span’s longstanding experience in operation with large, global companies,” said Taivo Remmelgas, the owner and Member of the Management Board of GT Tarkvara.