Software maker Asseco Poland, which bought Israeli group Formula Systems for $145 million a few months ago, is slowly getting ready for another acquisition. The company aspires to move from the fifth position to become the second largest software producer in Europe.

“Buying Formula Systems we proved that we can do complex transactions. We want to become the second largest in Europe with a strong expansion on the American market,” Adam Góral, CEO, told daily Parkiet.

In order to attain its goals Asseco Poland needs to have yearly revenue of €1 billion from the sale of its own products and services. In 2010, its revenue from this source reached €0.5 billion.

Mr Góral said that the company is conducting nonbinding talks regarding possible acquisitions. “Preparation for such transactions take time. Geographic expansion is a priority for us. If we come across a smaller company with a product that would complement our offer, we won't say no,” he said.

The WSE-listed Asseco Poland has also announced it will give up plans of debuting on Nasdaq. Originally the company wanted to enter that market without increasing its capital. It considered releasing shares but didn't get the shareholders' approval.

Poland A.M.