On 23 February 2016, PricewaterhouseCoopers SIA, the Latvian member firm of the world's largest professional services network, acquired BITI SIA, a company that provides business technology-related services such as cyber security, big data analytics, risk assessment and change management on the Latvian market. The combined expertise of the two companies will strengthen PwC's position in this segment and expand PwC's customer base in the Baltics.
Combined with PwC's existing services of risk management, information systems (IS) implementation, information technology (IT) development planning, and IT strategy development
, as well as overall IT governance
improvement, this deal expands PwC's expertise in cyber security
risk management and big data analytics
Large and medium companies have revealed that the cyber attack threat and the lack of data security are among the largest business risks in Latvia (according to the PwC 18TH CEO Survey). The experts at PwC and BITI believe that big data analytics in the private business sector has a huge potential that could be tapped to boost efficiencies, mitigate various risks and prevent waste of resources, which is important to companies of any size.
BITI SIA has so far provided services to major Latvian companies in various economically significant industries: BITI's customers include telecommunication operators LMT and TELE2 as well as Citadele Bank, Ventspils Nafta Terminal, and the Bank of Latvia.
Zlata Elksnina-Zascirinska, chair of the board of PricewaterhouseCoopers SIA and country managing partner for Latvia, said: "Our acquisition of BITI is the next step in growing our business. The global demand for skilful use of technology and data processing services is on the increase, and so the combination of PwC's international experience with BITI's innovative approach will give our Latvian customers the best possible solution."
Eriks Dobelis, chair of the board of BITI SIA, said: "Our decision to integrate with PwC's international network has opened up opportunities for BITI to offer unique services of Latvian origin in the Baltics and across Europe. We're proud of several business customers that have received a real business benefit from our innovative approach, especially in processing and using big data."