Coherent Solutions, a US-based software development company, has announced plans to establish a full-scale software development centre in Vilnius, Lithuania. The company expects to hire at least 100 specialists over the next three years. Headquartered in Minneapolis, Coherent Solutions is an American company with Belarussian roots. Founded in 1995 by Minsk-born Igor Epshteyn, the company has self-funded its steady growth, averaging a 25% annual increase in revenue over the last 15 years. Today, Coherent Solutions has more than 1400 employees across offices in the US, Belarus and Bulgaria. More: https://investlithuania.com/news/global-software-developer-coherent-solutions-branches-out-t... More

Flo Health—the developer of Flo, the first AI-powered app for women’s health—is about to open a new office in Vilnius. The company plans active hiring focused on engineering within next 3 years. Flo is one of the most popular Health & Fitness apps in over 100 countries around the world, and is chosen by over 150 million women worldwide, with 36 million active monthly users. In the European Union alone, there are a total of 30M installs and 8M active monthly users. It is also the #1 app in the Health and Fitness category in Lithuanian App Store (November 2020). Flo supports women during the entire menstrual cycle. It is a one-stop health solution for women of all a... More

Eliq, a Swedish company developing customer engagement software for energy suppliers, has announced plans to open a development office in Vilnius, Lithuania. The company is looking to build a team, which will include software developers, data scientists and product managers. Founded in 2010 under the name Exibea, Eliq has been among the pioneers of developing innovative solutions for energy usage monitoring and optimisation. With the help of Eliq, utility companies can provide end-users with full control over their energy consumption, resulting in increased loyalty and engagement. More: https://investlithuania.com/news/swedish-software-company-eliq-establishes-product-development-offic... More

MUFG Investor Services FinTech Limited (MUFG ISFT) has announced its plans to open a representative office in Lithuania. It’s first office in the country, the location’s aim will be to attract new talent in the region to grow the firm’s existing team of technology professionals. According to Pavlos Christoforou, CEO and CTO at MUFG ISFT, the presence in Lithuania will allow the company to increase its agility and flexibility in the changing business landscape. MUFG ISFT serves as a Centre of Excellence for MUFG Investor Services and specialises in Software Development, Maintenance, Project Management, IT Advisory Services and Cloud Infrastructure Management. More: htt... More

Metso Outotec Corporation’s press release on September 28, 2020. Metso Outotec’s new manufacturing site in the region of Šiauliai (Šiauliai län) in northern Lithuania has started its operations. The new plant further strengthens the company’s capability to produce high-quality rubber and poly-met wear parts for its mining customers. The investment was announced in March 2020. The factory utilizes fossil-free and renewable electricity in its products and processes have been optimized for each customer segment. The location of the factory in Lithuania was decided based on a careful analysis of the proximity from current customers in Europe and Russi... More