Lithuanian tech company Tesonet Global has acquired Star Dome, the operator of Twinsbet Arena in Vilnius, in a move aimed at testing innovative event technology ahead of a major international project in London.
The deal was announced Tuesday. Financial terms were not disclosed. Star Dome is indirectly owned by Gediminas Žiemelis, the Lithuanian businessman behind the Avia Solutions Group aviation conglomerate.
The acquisition will be finalised pending approval from Lithuania’s Competition Council, Tesonet said in a statement.
“This acquisition is a key part of our strategy: by investing in the arena, we can pilot advanced technological solutions and organisational innovations in a smaller market,” said Evelina Žvinytė, head of strategic projects at Tesonet Global. “If successful, these solutions will be applied later to a larger international project in London.”
Twinsbet Arena, located in the Lithuanian capital, has a capacity of up to 10,000 spectators and hosts sports, music, and cultural events.
Tesonet Global has previously announced plans to build a state-of-the-art arena in London, primarily designed for basketball and entertainment events. In 2023, Tesonet co-founder Tomas Okmanas acquired the London Lions, a professional basketball team, as part of the company’s growing sports and entertainment portfolio.
Tesonet also holds a 45% stake in the Žalgiris Club, which manages the Kaunas Žalgiris basketball team through the Žalgiris Basketball Centre.
A prominent player in Lithuania’s tech ecosystem, Tesonet is a startup accelerator and investor that has backed companies including NordSecurity – the country’s second company to reach valuation of one billion US dollars – as well as Surfshark and Oxylabs, a global leader in online data collection tools.
Newsletter
Every Friday morning.
