Acquiring momentum and looking abroad
Seven months after its IPO, IT company B3System is making good on its plans to carry out acquisitions. It has recently taken over two companies from the IT sector, paying a total of zł.10.4 million.
"This is another stage in realizing our IPO goals ... these two firms will help us enhance our offer, increase direct sales and acquire new clients," B3System's president Mirosław Kaliński said.
On July 16, B3System acquired 94 percent of shares in HS Partner Pro-Test for zł.8.2 million. The company provides complex IT solutions for the hotel and food-service sectors. In 2006, the firm posted a revenue of zł.7.88 million and net profit of zł.272,917.
The transaction for the second company, Navi-Pro, cost B3System zł.2.48 million worth of its own shares. Navi-Pro deals with implementation of MRP II and ERP systems and had a revenue of zł.1.4 million last year, with a net profit of zł.161,200.
B3System may have more acquisitions up its sleeve. Kaliński said that the firm is studying further acquisition opportunities both in Poland as well as abroad. In particular, the company is looking east.
"We are not holding talks yet, we are studying the market and we see great growth potential in Ukraine," Kaliński said, adding that initial talks with other Polish firms are being held. However, he didn't want to disclose the details as "further acquisitions could take some time."
