MicroLink invests 300,000 lats in Latvia's Fortech

RIGA (BNS) - The information technology holding company MicroLink board has resolved to increase Fortech's registered capital by 300,000 lats ($500,000).

Fortech reported that after the capital increase was paid, registered capital would reach 383,541 lats.

Fortech board chairman Janis Bergs pointed out that the investment in the registered capital demonstrated serious plans by shareholders as regards development of the company. Bergs said that the funds will be used to develop Fortech's infrastructure in order to upgrade high-quality professional services already provided to its customers.

Fortech's main business is the development and introduction of complex informatization projects. The company was awarded the international standards ISO 9001 certificate this July.

MicroLink and Fortech signed a merger agreement early this year to form the largest Baltic holding company in the branch with a staff of 900 persons and total turnover of $70 million.