Asseco Poland to purchase Centrum Komputerowe Zeto

2011-12-15



Asseco, one of the leading players in the Polish IT market, has signed an intention letter for the acquisition of 99.9% of shares of the Lodz-based IT service provider, Centrum Komputerowe Zeto. In order to complete the transaction, Asseco needs to obtain approval from the Office of Competition and Consumer Protection (UOKiK). The total value of the transaction will amount to PLN 42m (€9.1m).
The purchase of the local IT company is a first step by Asseco to create a Polish holding company of systems integrators. Regarding such plans, the company informed in November 2011. Adam Goral, the company chairman, announced that Asseco intends to unite under its roof up to seven IT companies. For the first few takeovers, the company plans to allocate PLN 100m (€21.8m). In two to three years, the holding company is expected to bring a profit of PLN 30m (€6.6m).
Asseco is currently in talks with another company to be taken over, hopping to announce its acquisition by March 2012.
Centrum Komputerowe Zeto employs 160 people. In the 2010 edition of the Teleinfo 500 report, the IT service provider was ranked as the second largest IT company, in terms of revenues, in Lodzkie voivodship. Centrum Komputerowe Zeto registered revenue of PLN 54.1m (€11.9m) and net profit of PLN 5.6m (€1.2m) in 2010. The share of IT services in the company’s total revenue accounted for 61%, with the remaining coming from the sales of IT equipment.