Poland’s largest IT company Asseco Poland is thinking of teaming up with a strategic partner to create the second-biggest sector firm in Europe. “What we plan is not a merger but a partnership to become second in Europe. I don’t even dream of replacing the no. 1 player, SAP,” the company’s CEO Adam Góral said at the Reuters Russian and Eastern Europe Investment Summit last week.
Mr Góral did not reveal any further details on how the goal would be achieved. “We are not in any talks at the moment,” he said. “It seems attainable for us in a five-year perspective. Give us some time to be successful in emerging markets to make it easier for us to be a partner.”
The CEO added that Asseco will continue to expand geographically. “We must be stronger in emerging markets. We started to work on Africa and are close to finalizing a small buy in Ethiopia. We have a target in Denmark and think we can be useful for Angola,” he said.
The Asseco capital group already has companies from over 30 countries in its portfolio. This year, the IT firm entered new markets by acquiring R-Style Softlab in Russia and Onyx Consulting in Georgia. In Ethiopia, the Polish firm is looking for a partner to help it create a hub for African projects. It has also expressed interest in the Nigerian and Angolan markets.
In the first half of 2013, Asseco Poland had a consolidated net profit of zł.180 million with its operating profit at zł.328.4 million and a revenue of zł.2.78 billion.
From Warsaw Business Journal
Wirtualna Polska sold to o2 for zł.375 mln
Asseco's big dreams
Asseco acquires Russian software firm
Financial results: PGNiG's profit up, Asseco's down, GTC with a loss
Poland at CeBIT: failure or success?
Will cabinet reshuffle save PO?
BY Remi Adekoya
What’s next for Jarosław Gowin?
BY Remi Adekoya