RASK advises the international technology company Ridango on the acquisition of LIT Transit.
RASK advises the international technology company Ridango on the acquisition of LIT Transit. Ridango acquired a 100% stake in LIT Transit, a Slovenian based firm providing IT solutions for public transportation.
Ridango Group now offers transport solutions in a total
of 25 countries - including Singapore, Hong Kong, India, Saudi Arabia,
Australia, Qatar and elsewhere in the world.
RASK's legal experts Ramon Rask and Karl Erik Esko advised
Ridango AS in preparing and carrying out the transaction, representing the
client both in assembling the transaction documentation and negotiating the
LIT Transit is Slovenia's leading provider of real-time information systems to public transport companies. LIT Transit offers, among other things, one of the most accurate vehicle arrival prediction engines and systems for monitoring vehicles, driving transport and assessing the driver's driving style. The company has more than 80 employees and this year's estimated cashflow is in the order of 8.5 million euros.
Ridango is headquartered in Tallinn, Estonia and is an intelligent transportation solutions provider founded in 2009. Ridango has more than 90 employees and the company's cashflow is in the order of nine million euros. In 2020, BaltCap Private Equity Fund III acquired a majority stake in Ridango.
Ridango and LIT Transit's new joint venture has more than 170 employees in Estonia, Slovenia and Asia. Over 35,000 vehicles in more than 25 countries are now connected to Ridango Group systems on a daily basis.