Asseco International mulls takeovers, potential IPO

Asseco International, a subsidy of WSE-listed IT giant Asseco, could enter a Western stock exchange to finance a prospective major acquisition, its CEO Józef Klein said. “We are planning to make further acquisitions, and we need capital for it. We have the opportunity to enter the stock exchange, but it all depends on market conditions. In a very short time we want to finish the preparation of our strategy and maybe then we will decide on IPO,” he explained. “We will look for an exchange where companies such as us obtain higher valuations in relation to profit than is the case with the Warsaw Stock Exchange,” Asseco CEO Adam Góral explained, adding that at this moment the company has sufficient funds to finance potential investments. Klein added that Asseco International is currently conducting talks on acquisitions with three entities, from Slovakia, Hungary, and Germany. The CEO assessed that the acquisition of the smallest of these companies could occur this year. Talks with the other two larger entities are at an early stage. He added that aforementioned companies deal with virtual reality solutions, banking, and enterprise management (ERP).