Prokom's Spin to acquire Telmax

According to unofficial information, the value of the transaction should amount to around zł. 8-10 million. "Spin will take over a new share issue, and all the details have already been settled," said a source close to Telmax shareholders. Although Spin will become a majority shareholder in Telmax, with an option to further increase its stake, a merger is not planned yet. Through the investment, Prokom will be fighting its energy sector competitor, Centrum Informatyzacji Energetyki, which in turn is controlled by Computerland, Prokom's largest rival. The companies will be competing to win contracts to implement new billing systems for energy distribution companies, deals which are worth between zł. 200-300 million, while further system maintenance is estimated at zł. 100 million annually. According to market analysts, the value of the IT market for the energy sector stood at between zł. 400-600 million in 2002, while the sectors future annual growth has been put at 20%. (Puls Biznesu, p. 8) A.K.