Boozt AB makes strategic investment to secure scalable platform growth and frictionless online experience for customers by acquiring Lithuanian technology company Estina. Boozt has engaged Estina continuously since 2010 and the close partnership has been crucial to building tech solutions tailored to the business. 

“Acquiring Estina is a natural next step for us. The highly talented team has worked with us from the start and has been part of building our proprietary tech platform. As we continue to expand the services we offer customers and partners we need a strong tech foundation that supports growth. The team in Vilnius knows our culture and business processes very well, and they are essential for our continued scaling. Securing the right talent and competencies in-house ensures that we stay at the forefront of the latest technological advancements and are well fit for the future.”, says Jesper Brøndum, Co-Founder & Group CTO at Boozt.

With the acquisition, Boozt will strengthen its in-house tech capabilities and secure full control of resources and growth. Officially welcoming more than 30 developers from Estina, the Boozt platform team will comprise more than 125 developers working in cross-functional, business controlled teams to ensure high productivity and relevance. The team in Lithuania have extensive knowledge of scalable web technologies, e-commerce development and system operations that will play an important role in further developing complementary services for customers and partners to become a true platform business. BooztPay is the latest addition to this endeavour, further improving the checkout experience for our customers. 

“We are proud that our successful partnership and cooperation of over 10 years has become permanent. High standards, strong work ethic and orientation to results and quality has helped us build an experienced team of professionals that has become an essential integral part of Boozt. We consider this acquisition an important acknowledgement of our lifelong work and are thankful for the unconditional trust”, says Paulius Podolskis, CEO at Estina.

Estina has developed web and e-commerce solutions since 2008 and is well established in the Lithuanian tech community. The company partnered with Boozt in 2010 and has provided e-commerce services for Boozt since. After the acquisition, the Estina team will continue to be based in Vilnius while fully integrating with Boozt and eventually changing name to Boozt Technology Baltics. The agreement to acquire Estina LT, UAB is expected to close on 2 June 2021 with minor financial impact and will not impact the outlook for 2021.