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In 1993, Elko appeared in Riga, Latvia, a company created from scratch by four enterprising IT students. Initially, they focused on the local market, assembling and selling computer components. The company quickly gained momentum when, in 1994, they signed their first distribution agreements with industry titans such as Seagate and Samsung. This important move served as a catalyst for Elko’s rapid growth.

Four years later, in 1998, Elko spread its wings and opened a branch office in Lithuania. This was soon followed by expansion in Ukraine in 1999 and in Slovakia in 2000. Realizing the need for a more structured management model in connection with the expansion of its presence, in 2005, the company established the holding ELKO Grupa AS. In 2007, Elko took the leading position in Latvian business, exceeding annual revenues of USD 1 billion – a first for a Latvian company.

In 2013, the company entered the Kazakhstan market, and two years later, it was admitted to the prestigious Global Technology Distribution Council. In 2017, the acquisition of Scandinavian distributor Gandalf was the company’s entry point into the lucrative Scandinavian markets. Even amidst the turmoil of a global pandemic, Elko achieved a record revenue of $2.2 billion in 2021.

Today, the company is present in 31 countries in Europe and Central Asia and employs more than 1,100 people. Elko has become one of the most powerful IT and consumer electronics distributors in the region.