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Norwegian IT company to create hundreds of jobs in Vilnius
Posted on: 09 May 2013  |   Tags: Migrate to Norway , Norway Immigration , Norway Jobs ,

Norwegian business software and services provider Visma's Lithuanian software development unit Visma Lietuva plans to grow to up to 500 staff in the coming years, writes news2biz LITHUANIA, sister publication of BBN. Visma is a leading Nordic provider of business software and services for accounting and administration. Visma Lietuva was set up in mid-2011. For more than a year since its establishment, the subsidiary had a more or less steady head count of around 10 but since late 2012 the figure took off and is now at 30 and growing. Growth at Visma's Lithuanian nearshore development centre operation took off in Q4 2012 when the parent company decided to assign Vilnius the function of a low-cost development centre for Visma's smaller businesses – BPO Accounting & payroll, Commerce Solutions, Retail, Consulting and Hosting – all units except for the software division, the group's biggest and most profitable business. "All parts of Visma have expressed interest at recruiting people in Vilnius, but we have decided that it is the Visma Consulting division that will manage our Vilnius subsidiary. Our impression is that the quality of our Vilnius work-force is very high, and we have no reservations about utilizing this competence in all parts of Visma," says Øystein Moan, CEO of Visma, to news2biz. "Particularly in Norway there is a shortage of competent software developers, and we have been looking for alternatives. Vilnius seems to offer high quality engineering education with several universities offering master programmes in computer science. With the short geographical and cultural distance to the Nordic countries, the well educated Lithuanian workforce is very attractive. Norway is probably the most expensive country in the world right now, both concerning salaries, but also cost of living. On average, a Norway-based developer will be 2-3 times as expensive," Moan explains. "Our ambition is to reach close to 100 employees by the end of this year, and then grow to between 300 and 500 over the next 4-5 years. In the future we will consider other tasks in addition to software development." The new jobs in Vilnius will not bring direct job cuts to Visma's Nordic operations but "if anyone resigns their position at our Nordic operations, we most likely will replace that person at one of our off-shoring centres, including Vilnius," Moan adds. Differently from a number of similar knowledge-intensive initiatives where foreign investors have sought public support for their investment projects in Lithuania, the Norwegian company plans to rely on its own resources. "We never apply for public support, neither from EU or any other governments. Our growth will be based on healthy business development independent of government support," Moan says. Visma is 77%-controlled by Kohlberg Kravis & Roberts, a major US private equity firm. In 2012 Visma turned over NOK 5.7bn (+12% y/y), net profit jumped 34% to NOK 416m. Norway and Sweden are Visma's main markets, accounting for 81% of sales. Source: http://balticbusinessnews.com/article/2013/5/8/norwegian-it-company-to-create-hundreds-of-jobs-in-vilnius

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