CEE's biggest IT firm Asseco Poland eyes US market, retains European strategy.

By bne IntelliNews December 10, 2009
The biggest IT company in Central and Eastern Europe, Asseco Poland is seeking a partner in the U.S. and has already launched research on the issue, the firm's CEO Adam Goral has said. The stimulus for such a move came two months ago, when Asseco Poland was approach by a U.S. IT company, with annual profit of around EUR 400mn, but Asseco replied that it was not for sale, Goral also revealed. The president went on to say that Asseco Poland continued to implement in European strategy, but anted to monitor also other markets. The group has already floated Asseco Slovakia , Asseco SEE and Asseco Business Solutions on the Warsaw bourse and it also includes, among others, Asseco DACH, Asseco Spain and Asseco South Western Europe. Goral also said that next year, Asseco Poland could merge with one of its subsidiaries, Asseco Systems - a software and hardware servicing and outsourcing firm. Earlier, Asseco Poland is to merge with another subsidiary, ABG - a software maker and IT solutions provider. Currently, Asseco Poland 's group 2010 backlog is worth of PLN 1.5bn (EUR 362mn), Goral also announced. These included PLN 1.16bn worth of contracts for its proprietary software and services, he added. In the case of Asseco Poland itself, these figures are PLN 292mn and PLN 421mn, respectively. The CEO also reiterated that the 2009 dividend would be in line with the group's policy, i.e. at 10-40% of annual profit. In Q1-Q3/2009 Asseco Poland reported consolidated revenue of PLN 2.114bn (EUR 518mn) and PLN 278.76mn (EUR 68.4mn) consolidated net profit. ISB, tom

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