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Formed in 1994 in the Latvian capital of Riga, ISMA was one of a number of spinoffs from the Riga Aviation University. Its name in Latvian Informacijas sistemu menedzmenta augstkola has been variously rendered in English as "Information Systems Management Institute" and "University of Applied Sciences".

A private institution, with the motto "Where there is unity, there is victory", it describes itself as a "modern and dynamically developing higher education institution teaching professions which are in demand in the modern labour market".

With classes in Latvian, English and Russian ¨C the nationality of around a third of the students ¨C it offers five strands of teaching. These include information technology, economics, management and administration, real estate management and tourism, Hotels and Restaurant Business.

Two-year courses are offered in real estate entrepreneurship, entrepreneurial restaurant business, finance and banking, insurance and applied information technology. The four-year options are business administration, tourism and information systems. Students are encouraged to undertake international exchanges after their first year.

There is a further Latvian branch in Daugavpils and centres in Russia, Ukraine, Belarus and Kazakhstan. A branch also opened in Fergana, Uzbekistan in 2018 which was seen as a means of developing a more effective and professional tourist sector in the Central Asian state, while 2019 saw the signing of an agreement with Kharkhiv National Institute of Radio Electronics in the Ukraine.

Students have the opportunity to join one of ISMA sports teams and take part in annual Latvian Universiades. Sports teams include table tennis, basketball, volleyball, swimming and track and field athletics.