Asseco Poland to buy Portugal's Exictos

Software Developer Asseco Poland has agreed to buy a 61.4 percent stake in Portugal's Exictos for €21.5 million, Asseco said on Thursday. "The transaction ... is for Asseco a continuation of its growth in the emerging markets, mostly including Africa," Asseco said in a statement. Asseco said it had bought Exictos from five individuals and Portugal's investment consultancy Ifogest, adding it would finance the transaction from its own resources. Exictos specializes in software for banks and services over 60 lenders in Portugal and Portuguese-speaking countries, with a strong presence in Africa. It made a net profit of nearly €5 million in 2014 on revenue of €41.5 million.