HP gets cold feet and gives up ghost on domestic purchase

"The project has been closed. HP is no longer interested in acquisitions, at least for the time being," revealed a Puls Biznesu informer. "Purchasing an IT company is a lengthy process and a risky one. For those companies that already have well-developed structures in Poland, it is not a priority," said Marcin Duszyński, an investment consultant. The majority of domestic firms in the sector already operate in partnership with foreign entities, and thus after purchasing a domestic firm, the foreign company may well lose a substantial part of their existing business. However, it is possible that acquisitions could still be made with regards to companies sharing similar profile as the domestic partner's or those possessing interesting products among their portfolios. It should, though, be noted that IBM was also looking for a takeover opportunity in this country but to no avail. (Puls Biznesu, pp. 1, 12) M.M.