5/11/2007

Asseco Poland spends over €16m on Romanian acquisitions

Asseco Poland, a listed IT company, has announced that it has acquired two firms in Romania, FIBa Software and Net Consulting, by buying a 70% stake in each of them. The Polish company paid more than €5.8m for the shares of the former and around €9.8m for those of the latter.
Katarzyna Drewnowska, a spokesperson for Asseco Poland, told ICT Update Poland: We want to achieve a strong position in Central and Eastern Europe by establishing a presence in the countries of the region and to gain experience which would allow us to expand successfully on the Western markets. She added that the level of IT development in the region is relatively limited, providing an opportunity for IT companies. Asseco Poland expects robust growth on the Romanian market.

Ms Drewnowska emphasised that the foreign subsidiaries of the company will offer products and services to those areas which are already the focus of the parent company, i.e. banking and finance, along with entrepreneurship. The company is, however, going to spread its net further, for example, to include contracts with public bodies.
Source:polishmarket.com



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