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BNS - The software developer Webmedia placed second in the latest list of the Baltic countries' top IT companies compiled by the investment bank Prime Investment, one notch higher than in the previous semiannual ranking published in spring.
The revenue of Webmedia Group in the first half of 2009 was 112 million kroons (EUR 7.16 mln), exceeding the revenue of the first half of 2008 by 9.4 percent, it appears from a press release by Webmedia.
Prime Investment observes in the survey that Webmedia is the only company in the top 3 that was able to show revenue growth in the first half of this year.
The leader's position in the Baltic IT services market is still held by the Riga-based development center of the US company Exigen Service. In third place comes Alna Group of Lithuania.
In places 4-6 follow Microlink Eesti, Baltic Data Center, and Lattelecom Group.
"When a year ago the long-time sovereign market leaders Exigen and Alna posted half-year sales of 234 and 140 million kroons they looked to be too far for one to catch up with quickly. Yet by now the leader's position is within our reach," Webmedia Group CEO Priit Alamae said.
Webmedia Group's revenues in 2008 grew 34 percent year on year to 219 million kroons and profit totaled 14.8 million kroons.
Webmedia is an international software development group with headquarters in Tallinn and offices in various countries of Europe and the Middle East. Its Estonian holding AS Webmedia has offices in Tallinn, Tartu and Narva.
Compiled since 2001, Prime Investment TOP 20 is a proprietary ranking of the leading Baltic IT service companies by their revenues from in-house developed IT services and added value effectiveness. The ranking does not include any sales of hardware, distribution of software other than developed in-house, office equipment or other products.
(EUR 1 = EEK 15.65)
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