Asseco close to finalising a takeover on American market

2010-09-06

The IT company Asseco Poland plans to finalise the acquisition of an American technology company listed on Nasdaq by 15 September 2010. Asseco has not yet revealed the name of the firm that it will take over. The transaction will be paid for with the company’s own funds. At the end of June 2010, Asseco had PLN 510m (€128.5m) in cash that could be spent on the takeover.
At present, the company has a backlog worth PLN 2.54bn (€640m), of which PLN 1.73bn (€436m) represents the contracts for provision of Asseco’s own software and services.
In H1 2010, the company posted PLN 205.4m (€51.7m) of net profit and PLN 1.45bn (€365m) of sales revenues, while in the analogous period of the previous year the figures were PLN 176.4m (€44.4m) and PLN 1.41bn (€355m), respectively.