Prokom hopes to enter banking sector through Softbank

According to unofficial news in Puls Biznesu, a leading software integrator, Gdynia based Prokom will today buy almost 24% of shares in another software company Softbank, in which it already owns about 10%. The transaction is estimated to be worth zl. 55 million, with the shares being purchased at the current market price. Softbank's value is much lower as compared to two years ago when Prokom paid zl. 128 million for its 10% stake. Aleksander Lesz, Softbank's president is forced to sell the stake as his company is in serious financial trouble, is showing poor results, and market prospects do not look too bright for the short to mid-term. Thanks to the acquisition, Prokom will gain access to the banking sector, where it could win a lucrative contract with bank PKO BP, which is preparing a tender for its main IT operating system. Warsaw-based Computerland was also interested in taking over the stake, however analysts believe that Prokom, with its stronger financial position, is a better partner for Softbank. The market reacted positively to the news, with Softbank's shares rising by over 9% yesterday on the Warsaw Stock Exchange, while Prokom's rose by 3.6%. (Puls Biznesu, pp. 1, 3) M.T.