Asseco Poland group buys German peer for 26.2 mln eur

WARSAW (Thomson Financial) - Polish software group Asseco Poland has bought German peer Matrix42 for around 26.2 mln eur, strengthening its position outside Eastern Europe, the company said in a statement today.

Matrix42 specialises in producing software for lifecycle management, and operates in Germany, Austria, Switzerland, US and Canada. It will join its local peer AP Automation+Productivity in Asseco's German group.

'The total value of the transaction, together with costs, should not exceed 26.2 mln zlotys,' the company said in a statement.

Asseco Poland, which is to merge with Poland's Prokom Software to form the region's biggest software producer, has subsidiaries - besides Poland and Germany - in Slovakia, Czech Republic, Romania and the Balkans.

Source: By Adrian Krajewski, forbes.com