APPROVAL GRANTED FOR CONCENTRATION IN THE FIELD OF INFORMATION TECHNOLOGY

The Norwegian investment company Hawk Infinity will be able to indirectly acquire 94.74% of the shares in the company WhiteBit through a special purpose entity, SaaS Holding, and take sole control of WhiteBit. The Competition Council has granted permission for this transaction.

The merger notification was received on 20 May 2025. Having assessed the circumstances of the transaction, the Competition Council has concluded that the proposed merger will not result in the creation or strengthening of a dominant position or significant restriction of competition in the relevant markets.

Hawk Infinity invests in various companies operating in the field of information technology. Its affiliated companies in Lithuania offer modern accounting, document processing, and business analytics services, and implement specialised computerised accounting and management systems in the catering, accommodation, health, and leisure sectors.

WhiteBit provides cyber security, data transmission networks, virtualization, and other specialised solutions in the field of information technology in Lithuania.

The intended concentration must be notified to the Competition Council and cleared if the combined total revenues of the undertakings involved in the concentration in the last year before the merger exceed EUR 20 million and the combined total revenues of each of at least two undertakings involved in the concentration in the last year before the merger exceed EUR 2 million.