Shareholders bless ComputerLand and Emax merger

The newly-formed company will also be christened with a new name - Sygnity. The move is seen as a defensive tactic to the aggressive expansion of Prokom, the biggest domestically owned IT group and main rival. Particularly given the recent merger of Softbank and Asseco, major IT companies also related to Prokom. The new entity, with combined revenues for 2006 of zl.1.3 billion and an operating profit of zl.50 million, will employ 2,300 people and bring together ComputerLand's strong position in the banking and telecoms sectors and Emax' expertise in energy, industry and local government. "There is a perfect strategic fit between our companies," says Michal Danielewski, ComputerLand CEO. Although the merger itself is not a surprise - ComputerLand already owned 33% of Emax - the creation of a new name for the combined entity in place of two well-recognized brands is. As the acquiring party, however, ComputerLand believes integrating the company cultures and launching foreign expansion will be easier under a new, joint brand. (Gazeta Wyborcza, p. 33) R.M.