IT firm Asseco Poland in talks with 14 firms in Western Europe.

By bne IntelliNews March 23, 2010
IT firm Asseco Poland is holding acquisition talks with 14 companies from Western, Southern and Northern Europe , the CEO of Asseco Poland Adam Goral has said. Asseco Poland is talking with five companies from Spain , two Italian firms, three companies from Finland as well as companies from Denmark and Switzerland (one from each country). Goral also said that Asseco Poland had a number of companies shortlisted in the US that could become its partners in the country. The list includes a company listed on Nasdaq. The CEO said that Asseco Poland was looking for a company, which had its own products and which would help it enter new markets. Asseco Poland hopes to carry out an I series share issue, from which it plans to get PLN 230mn, in May , Goral also said. Initially the share issue was planned in Q1. "We do not plan to carry out the issue at all cost, we will be talking to investors," Goral said, when asked whether the company plans to lower the share price set for the issue at PLN 60. On Monday around 3 p.m. the company shares traded at PLN 55.75. Asseco Poland is to issue 3.88mn I series shares. At the same time it will terminate the same number of treasury shares. The funds from the share issue are to be used to finance takeovers in Western Europe as well as the planned acquisition of an US Nasdaq-listed IT firm. Asseco Poland had a consolidated revenue of PLN 3.050bn (EUR 702.73mn) with a net profit of PLN 373.37mn (EUR 86.02mn) in 2009. Later in the day, Asseco Poland 's management decided to recommend allocating PLN 100.33mn for the dividend , i.e. about 34% of the unconsolidated 2009 profit. This will translate into a pay-out of PLN 1.47 per share. The company's capital is divided on 77.5 mn shares, including 9.3mn shares owned by the company that are not included in the dividend (treasury shares). Goral also said that the company expected to achieve PLN 75-80m from dividend from its subsidiaries. ISB, tom

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