Both companies are owned by Digital Mind AS and will operate as EIP Dynamics. The new team of 160 specialists implementing Microsoft Dynamics 365 Business Central will be led by Marta Osiak.
The merger of Alna Business Solutions Sp. z o.o. (operating under the brand name Alna Business Poland) and EIP Dynamics Sp. z o.o. took place in February 2024. It follows the purchase of 100% shares of EIP Dynamics by Digital Mind from EIP S.A.
This acquisition, funded by the Latvian private equity fund Livonia Partners, is a key moment in Digital Mind’s development. It has enabled the creation of a strong regional leader in Microsoft business applications, serving customers in the Baltic and Central European countries and building a scalable platform for a buy-and-build strategy in the CEE region.
The Digital Mind Group’s forecasted consolidated revenues in 2024 will reach at ca. EUR 26 m and the team, operating in Lithuania, Latvia, Estonia and Poland, will exceed 300 people. In 2023, Digital Mind’s revenues were at ca. EUR 14 m and EIP Dynamics’ revenues were at over PLN 46 m (ca. EUR 10 m).
“The acquisition of EIP Dynamics, combined with the strategic investment by Livonia Partners, represents a historic milestone for Digital Mind. This momentous event underlines our unwavering commitment to enhancing our capabilities and perseverance in delivering cutting-edge business application solutions to our customers”, says Rinalds Sluckis, CEO at Digital Mind.
“We are embarking on this journey to achieve our goal of strengthening our position as the leading Microsoft Dynamics specialist in the CEE region”, he adds. “I am looking forward to co-creating a complementary development strategy together with Rinalds. His positive energy and focus on goals will ensure that EIP Dynamics’ growth is accelerated and effective”, concludes Marta Osiak, CEO of EIP Dynamics.
Paweł Prasuła, CEO EIP S.A.; Marta Osiak, CEO EIP Dynamics Sp. z o.o., Rinalds Sluckis, CEO Digital Mind AS
With this investment, Digital Mind has created a regional leader in the deployment of Microsoft business applications. The transaction also aimed at increasing the Digital Mind Group’s ability to serve both large, local clients and international groups with complex digital needs. EIP Dynamics will also become the platform for a buy-and-build strategy in the CEE region.
“Following EIP Dynamics’ growth strategy, I have always, first and foremost, thought about people, building a longer table rather than a higher fence. I hope that the further development of EIP Dynamics is all about developing the people in the international group. I am delighted that new people from Alna Business Poland will be joining and expanding our team. I am convinced that under Marta’s leadership they will find their way forward”, says Paweł Prasuła, CEO of EIP S.A.
“Together with Bogusia Igielska, Director of Development at EIP, and Rinalds Sluckis as members of the Supervisory Board of EIP Dynamics we will support the implementation of the strategy together. I am convinced that Microsoft’s technology platform, encompassing ERP + AI + Cloud solutions, will ensure further growth for the company’s employees and customers with tangible benefits. In turn, this will translate into success and growth for both EIP Dynamics and Digital Mind”, Paweł concludes.
Alna Business Poland will be integrated into the EIP Dynamics team. The transformation aims to build on the strengths of both teams and foster collaboration in delivering cutting-edge solutions to customers. Customers can thus expect to benefit from enhanced ERP solutions and services, drawing on the combined expertise of two, highly experienced teams.
Digital Mind’s financial and transaction advisors were Aventis Advisors / Oaklins Baltics, CSWP, and legal advice was provided by law firms BCGL Polska and Eversheds Sutherland Bitans Latvia.
As a reminder, in May 2022 Digital Mind acquired Alna Business Group, which operates in Lithuania and Poland. In Poland, the Group operated under the Alna Business Poland brand.
The management boards will include:
EIP Dynamics Sp. z o. o.
- Marta Osiak – CEO
- Jacek Zakrzewski, EIP Dynamics VP, CTO – member of the Management Board
- Rafal Barnowski, EIP Dynamics Head of Sales and Marketing – member of the Management Board
- Mažena Birbalienė, Head of Controlling at Digital Mind Group, CFO at Alna Business – member of the Management Board
- Darius Buzinskas, COO of Digital Mind Group, CEO at Alna Business – member of the Management Board
- Sandis Riņķis, Business Development Officer at Digital Mind Group – member of the Management Board
Alna Business Solutions Sp. z o. o.
- Marta Osiak – CEO
- Mažena Birbalienė – Member of the Management Board
- Darius Buzinskas – Member of the Management Board
- Sandis Riņķis – Member of the Management Board
The EIP Dynamics Supervisory Board will include:
- Rinalds Sluckis, CEO at Digital Mind Group
- Paweł Prasuła, CEO at EIP
- Bogusia Igielska, EIP Group Business Development Director
- Aivars Balcuns, CFO at Digital Mind Group
Integration of Alna Business Poland and EIP Dynamics teams