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

Dexcom, Inc., (NASDAQ:DXCM), the global leader in continuous glucose monitoring (CGM) for people with diabetes, has announced opening a global business services (GBS) centre in Vilnius, Lithuania. The new hub is set to open its doors in 2021 and will expand the company’s patient support, customer advocacy and finance and accounting operations in Europe. The San Diego-based medical device manufacturer will be joining the booming GBS community of Vilnius. Currently, the city is home to more than 80 centres, including those operated by numerous Fortune 500 companies. Lithuania’s capital was picked after a diligent selection process, which involved sorting through a long list of l... More

CAST AI, a Florida-based developer of cloud computing solutions, has announced the establishment of a development office in Lithuania. The company, which has already raised $4.8M at begining of 2020, plans to expand its Vilnius-based team to 100 people in the next three years. Established in the end of 2019, the company seeks to solve a common issue in cloud computing – running multiple clouds with several providers. The latest report by Gartner shows that 81% of cloud users rely on multiple providers, but there is no solution for seamless and simultaneous synchronization. CAST AI will allow organizations to deploy and automatically optimize applications across any combination of cl... More

Sonect, the location-based matchmaking platform that connects people who have cash with people who need cash, has obtained its Electronic Money Institution licence from the Bank of Lithuania, which enables the company to operate in all EEA countries. This marks a starting point for pan-European expansion for Sonect. My matching cash withdrawal with cash deposit, Sonect builds a community around local businesses and helps them generate physical leads. It has taken the Swiss FinTech a mere 18 months to become the largest single cash withdrawal network in Switzerland and is now ready to enter new markets in Europe and beyond. Sonect plans to replicate its success story in several European ma... More