Civinity, a Lithuanian building maintenance and engineering solutions groups, has acquired a 9.99 percent stake in Mobilly, a Latvian mobile payments company, from its existing shareholders for an undisclosed value.
“Civinity, one of the largest building maintenance and engineering solutions groups in the Baltics, has completed a transaction in which it and its management bought out the shares of Mobilly, a leader in mobile payments in Latvia, from its existing shareholders,” the statement reads.
Civinity acquired the shares indirectly through its Latvian holding company Mobilly SPV.
On July 19, Civinity said it had issued a 5.7 million euro private placement bond to acquire the Mobilly SPV stake.
“With this investment, we are taking a serious step towards creating a Smart Green City ecosystem that combines the essential services that citizens need to live, work and receive services in buildings, as well as mobility when traveling between buildings,” Civinity CEo Virgeda Jackaite said.
In addition to Civinity, Mobilly executives Valdis Bergs and Girts Slavins also became the company’s shareholders and will hold a controlling stake.
Mobilly has more than 400,000 unique mobile app users, according to Civinity.
Source: BNS
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