Estonian IT company ranked 2nd on the Baltic marketplace

27.11.2009, 11:43

Estonian software developer Webmedia came second in the latest survey of Baltic IT companies.

The survey Prime Investment TOP 20 has been annually prepared by investment bank Prime Investment since 2001 and 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.

Webmedia was the only company in the top 3 that was able to show revenue growth in the first half of this year. 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%.

The top place went to Riga-based development centre of the US company Exigen Service. Third was Alna Group from Lithuania, followed by Microlink Eesti, Baltic Data Center and Lattelecom Group.

Webmedia Group's revenues in 2008 grew 34% year on year to 219 million kroons and profit totalled 14.8 million kroons.