Saab signs new agreements with Polish PGZ and WB Group
Saab deepens its collaboration with Poland’s defence industry and has today signed further collaboration agreements with Polska Grupa Zbrojeniowa (PGZ) and WB Group.
“Signing these new agreements with both PGZ Group and WB Group marks important new milestones in strengthening collaboration between the Polish and Swedish defence industries. By sharing expertise and scaling up innovation together, we can ensure the development of advanced solutions and capabilities that will contribute to security and stability in Europe and the Baltic Sea region,” says Micael Johansson, President and CEO of Saab.
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Originally published on 12 Mar
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Building on its mission to deliver meaningful, human‑centered innovation and expand what’s possible with wearable technology, Oura is acquiring Doublepoint. Founded in 2020, Doublepoint is a privately held Helsinki‑based company specializing in AI‑driven biometric and gesture-recognition technology that enables people to control devices with simple, natural movements.
The acquisition will strengthen Oura’s long-term innovation roadmap, supporting future offerings while advancing more intuitive ways for people to interact with technology in their everyday lives.
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Originally published on 9 Mar
In 2025, new and existing investors committed to €431M worth of investment decisions with support from Invest Estonia, marking the highest figure on record.
Investment decisions were concentrated primarily in electronics, chemicals, energy, wood processing, machinery, and metals. Around 40% of the total represents entirely new investments, whilst over 30% relates to reinvestments by foreign-owned companies already operating in Estonia. A further fifth comprises planned acquisitions.
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Originally published on 9 Mar
PAYSTRAX, an international payment acquiring company headquartered in Vilnius, is accelerating its growth in Lithuania. The company plans to hire up to 75 new specialists in 2026 and bring on up to 150 new employees over the next three years. Founded in Lithuania by two Icelandic entrepreneurs in 2018, PAYSTRAX has grown from a startup to an established payments provider with more than 150 employees across six European offices.
The expansion will span both of PAYSTRAX’s Lithuanian locations – in Vilnius and Klaipėda – and will focus on strengthening the company’s IT, finance, marketing, account management, operations, and onboarding capabilities. In Klaipėda, PAYSTRAX has already moved into larger premises, and in Vilnius it added a second floor at its office to accommodate the growing team.
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Originally published on 9 Mar
Ellex Baltic Fintech Legal Outlook offers a comprehensive overview of the most significant legal developments and market trends expected to shape the fintech sector in Estonia, Latvia and Lithuania during 2026. Involving insights from leading legal experts in fintech, this publication highlights key regulatory changes (including PSD3/PSR, CCD II, EU AML package, MICAR, EU AI Act, Digital EURO) as well as country specific initiatives and elaborates on their impact to the local fintech markets.
In 2026, the Baltic FinTech landscape is defined by regulatory maturity, consolidation and cross-border ambition. Estonia remains a digitally advanced and credible fintech hub, benefiting from constructive engagement by the regulator and a shift towards sustainable, pan-European scaling. Latvia gains momentum with its FinTech Strategy 2026–2027, supported by active regulators´ backing and increased licensing activity, strengthening its position as an attractive innovation hub. Lithuania continues to offer efficient access to the EU market, while facing heightened supervisory expectations around AML, operational resilience, AI, cybersecurity and governance as EU regulatory integration deepens.
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Originally published on 2 Mar
The newly published Cruise Baltic Market Review shows broad‑based growth in 2025, with many medium‑sized and large destinations reporting increases in calls, guests, and turnarounds. This indicates a more balanced and resilient regional cruise market.
In 2025, the cruise activity in the region increased from 2024 in terms of guests, port calls, and turnarounds with respectively 12.3%, 12.8%, and 5.6%.
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Originally published on 2 Mar
The Northern Industry event offers visitors a comprehensive overview of industrial services, products and the latest insights. Come and talk with our experts and experience how data and automation turn into real value in production!
Northern Finland’s largest industrial event, Northern Industry 2026, will take place at Oulu Hall on 20–21 May 2026. The event brings together more than 300 exhibitors and professionals across various industrial sectors, offering a wide overview of current themes such as energy, hydrogen economy, maintenance, mining industry and operational reliability in modern industrial environments.
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Originally published on 5 Mar
The 26 highest ranked projects in the second BioPhoT call for research and innovation projects will receive funding. They will receive an investment of €4,710,859, with each project receiving up to €190,000 in funding for eight months of research and innovation activities.
Most of the supported projects – seven – will be carried out by research groups from the Institute of Solid State Physics at the University of Latvia. The University of Latvia follows with five supported projects, followed by the Institute of Organic Synthesis and Riga Technical University with four each. Two projects each will be implemented by teams from the Latvian Biomedical Research and Study Centre and Riga Stradins University, and one each by research groups from the Institute of Electronics and Computer Science and Ventspils University College.
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Originally published on 6 Mar
Cybernetica has successfully completed additional technical delivery of the CDOC2 project for the Estonian Information System Authority (RIA), implementing a comprehensive upgrade to Estonia’s national file encryption standard that addresses critical security requirements and enables long-term secure document storage.
CDOC – Crypto DigiDoc – is the file format used to store encrypted DigiDoc files. The objective of the CDOC2 project was to replace the previous CDOC 1.0 standard. It became clear during the 2017 ROCA cryptographic vulnerability crisis that additional protections are necessary. Updates to the standard are two-fold:
- modernising the encrypted file format and adding additional encryption algorithm support
- providing additional protection against harvest-now-decrypt-later attack and preparing CDOC system for quantum computer threat
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Originally published on 6 Mar
Rail Baltica has moved to the next stage of its consolidated construction materials procurement, with several framework agreements for key track components now signed or close to being finalised. The centralised procurement model, implemented together by Estonian, Latvian and Lithuanian delivery organizations and led by the central coordinator of the project, plays an important role in making sure the future high-speed railway is developed as one connected and compatible system.
Framework agreements establish pre-agreed conditions for pricing, performance, quality assurance and delivery schedules without creating immediate financial commitments. This structure allows national implementing bodies to place orders in line with actual construction progress, maintaining flexibility while securing supply chain reliability.
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Originally published on 5 Mar
Estonia cooperates extensively both within NATO and with a wider block of allies. This week, South Korean defence giant Hanwha Aerospace has announced a direct investment package of nearly €100M in Estonia, with the total economic impact — including joint R&D activities with local companies — projected to reach up to €260M. The investment aims to strengthen Estonia’s technological sovereignty and establish the country as a regional hub for territorial defence systems.
The announcement builds on a deepening bilateral relationship. In late 2024, Estonia signed a €290M contract with Hanwha to procure at least six Chunmoo multiple-launch rocket systems alongside three types of munitions. Hanwha had previously delivered six K9 Thunder self-propelled howitzers to the Estonian Defence Forces, making it one of Tallinn’s most significant defence procurement partners. Defence Minister Hanno Pevkur noted that Hanwha is also among the potential bidders for Estonia’s upcoming naval overhaul.
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Originally published on 6 Mar