The changes in the management took place when Penki Kontinentai Group took over UAB Kriptonika and its the shareholding of Ashburn International.
Ashburn International, the company that develops and installs e-payment and loyalty systems, has a new CEO – Rolandas Budriūnas, a long-term employee and former CFO of the company. The Board of Directors will be led by Idrakas Dadašovas, the Chairman of the Board of Penki Kontinentai.
The changes in the management took place when Penki Kontinentai Group took over UAB Kriptonika and its the shareholding of Ashburn International and also bought the shares of the former manager of the company Aloyzas Koryzna. Now Penki Kontinentai owns approximately 98% of Ashburn International share capital.
“The changes in Ashburn International ownership and management corresponded to the 11th anniversary of the company. The transfer of the controlling interest will allow more intensive investments into the company, better concentration and optimization of the company's performance, will give a possibility to offer new products and services to customers, to strengthen company's position on the market in the Baltic states and to expand its export to other foreign countries,” – said Chairman of the Board of Penki Kontinentai Idrakas Dadashovas.
According to his words, company from the start-up already created more than one original software solution and reserved its intellectual property rights. These solutions allowed integration of various retail equipment and payment terminals, implementation of universal loyalty systems, development of new service payment solutions and connection of retail equipment to the bank systems using reliable and secure connections.
Ashburn International develops and installs e-payment and loyalty systems conforming to EMV standards since 1998. The company successfully implements joint projects with commercial banks, the largest retail, mobile communication, and gas-filling stations operators.
Ashburn International was among the first Lithuanian companies which received an international PCI DSS certificate in 2007. A respective certificate extension audit of the company has been successfully performed this year already for the third time.