Prime Investment, one of the leading investment banking companies in the Baltics, announced in its semiannual report “Baltic ICT Market News” that Exigen Services, a recognized global expert in application outsourcing services, has maintained a leading position among the largest IT companies in the Baltic region four years in a row.

“The Baltic region saw the most significant impact, among European countries, from the world economic downturn. As governments were trying to reduce and optimize budgetary deficits they naturally adjusted their spend across all government sectors, including IT and automation budgets for government-owned institutions. Since a significant portion of our revenues in the Baltic is related to public and government sectors, such measures had an impact on our business.

However, in spite of these facts, we managed to maintain our leading position in the region, which is experiencing a good pace of recovery. We also increased the share of global business in our portfolio, serving primarily US and European customers in the insurance, financial services and media industries, which effectively allowed us to smooth outcomes of the local market correction. Our new wins on the global software development market, along with our solid presence in the Baltic region, give us a positive outlook for the future of our Baltic operations,” – noted Sergiy Synyanskyy, Exigen Services CFO.

“In spite of the total Baltic decline in 2009, Exigen Services Lithuania has contributed to the growth of the company, starting several large international projects,”– added Tomas Vaiciunas, Exigen Services Lithuania COO.