Asseco Poland to acquire companies in Serbia and Romania

2007-06-14

Asseco Poland, a listed IT company, intends to acquire two companies in Serbia and a few in Romania by the end of 2007. The funds raised by Asseco Czech Republic in an IPO will be used for acquisitions in Austria and Hungary.
Asseco is eyeing three or four IT companies in Romania, whose acquisitions are intended to give the Polish firm a dominant position on the ERP software market in that country. Combined revenues of these companies stood in 2006 at around €27.5m and net profit was approximately €2.7m. The Serbian companies earned €16m and netted around €3m.
Asseco Poland plans to introduce three of its subsidiaries on the Warsaw Stock Exchange (GPW). These will be Asseco Business Solutions, Asseco Romania and Asseco Czech Republic. The combined value of their IPOs is to be as high as PLN 250m.

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