Another Czech acquisition for Asseco Slovakia

2007-06-21

Asseco Slovakia, a subsidiary of Asseco Poland, has announced that it has signed an agreement on the purchase of a 55.43% stake in the Czech IT company Berit. The transaction is expected to cost PLN 10.8-19.9m (€2.9-5.3m). The exact amount depends on Berit’s net profit for 2006/2007 and 2007/2008.
Berit is the second Czech company to be purchased by Asseco Slovakia in the recent past. In May 2007 the Slovak company bought a 55% stake in LCS International. Both of the acquired companies will eventually be controlled by Asseco Czech Republic, which is due to embark on the Warsaw Stock Exchange (GPW) by the end of 2007.
Berit was founded in 1991 and operates in the field of Geographic Information Systems (GIS) and systems for the management of distribution networks.
Asseco Slovakia insists that the acquisitions would allow it significantly to broaden the product and services portfolio and to offer clients complete IT solutions.

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