Asseco annouces a tender offer for sharesof Infovide-Matrix
Asseco Poland has signed an agreement with major shareholders in Infovide-Matrix, a company listed on the Warsaw Stock Exchange, for the sale of a majority stake and has announced a tender offer for 100 percent of shares in the target company. This is another important step aimed at building a strong Polish IT player which, through this acquisition, will be able to maximize its services potential.
More than 80% of Asseco Group’s revenues are generated from proprietary software and related services. The company operates in the sectors of banking, telecommunications, energy and public administration, just to mention a few. The acquisition of Infovide-Matrix will enable Asseco to expand its portfolio of services related to software solutions of global third-party vendors, as well as to diversify and strengthen Asseco’s position in the market for IT services. Infovide-Matrix, acting as a partner for many international IT providers, has for years specialized in this business and developed operating models that will now be available to Asseco in further expansion of its Group.
“Along with the development of markets and various sectors of the economy, the role of software solutions that bring companies closer to their customers is growing rapidly. This requires advanced IT solutions and specialized services. The teams of Asseco and Infovide-Matrix have complementary competencies, and therefore both the parties see great benefits from prospective joint operations. We will be able to present a more comprehensive offering to our customers, giving us a competitive edge in the Polish market,” said Adam Góral, President of Asseco Poland.
Until the transaction is finalized, Infovide-Matrix will operate without any changes and implement contracts and projects for its existing clients. Ultimately, the teams of both companies will work closely together, providing services for sectors such as energy, banking, telecommunications and public administration.
Both the parties are going to continue to perform their existing contracts, while providing their customers with the comprehensive offering and know-how of both Infovide-Matrix and the entire Asseco Group. Moreover, the clients of Infovide-Matrix will from now on deal with a large and stable partner which is able to ensure complete implementation of more challenging projects.
“Implementation of complex projects based on technologies of global software vendors requires the development of related services. As the team of Infovide-Matrix, one of the leading providers of such IT services in Poland, joins Asseco Group, we will be able to significantly accelerate our expansion in this segment of the market. Recognizing the competence and efficient operations of the Infovide-Matrix team, I believe our Group will provide it with a number of interesting new opportunities arising from the availability of strong capital support, possibility to broaden professional skills, as well as from our customer relationships and worldwide presence,” commented Adam Góral.
The transaction shall be finalized upon obtaining due consent from the President of the Office of Competition and Consumer Protection, and on condition shares tendered for sale under the tender offer enable Asseco to acquire at least a 70.01 percent equity interest in the target company.