Tesonet, a cyber security solutions company, will lease premises at the former Sparta factory in Švitrigailos Street, Vilnius. The company will lease an area of 15,000 m². The office is expected to house 1,500 employees. So far, this is the biggest office lease deal in the current year.

Tesonet is also investing approx EUR 50 million in the new technology campus by acquiring a 45% stake in VK investicija, which indirectly controls the buildings in the area of the former Sparta factory. The buildings are planned to be transformed into a Baltic IT centre.

Seeking to unite the IT community

Tomas Okmanas, co-founder of Tesonet, says that the plan is to develop an area of 35,000 m² so that businesses could move in by the end of 2021. Tesonet seeks to unite the Vilnius IT community and invites startups and technology companies to move into the newly developed business centre.

Comments Okmanas: “Naujamiestis district is undergoing rapid renewal, and we want to contribute to the development of the city. We are also looking to build a technology cradle and contribute to the startup and technology community”.

Our services and project team

The project team was led by partner Kęstutis Adamonis. Counsel Asta Augutytė-Rapkevičienė and senior associate Karolis Kunigėlis represented the client in negotiating the lease agreement, senior associate Evaldas Dūdonis advised the client on corporate law issues, and senior associate Edita Daukšienė assisted on competition law issues.