Techmex bails out Karen Notebook through takeover bid

Bielsko-Biala-based IT company Techmex is planning to take over Warsaw-based Karen Notebook, Poland's largest laptop computer retailer. According to unofficial information cited in Puls Biznesu, the move comes as a result of a deal made between the supervisory boards of Karen Notebook and Techmex last year, when Karen Notebook's main suppliers refused to work with the company further. Karen's shareholders have agreed to sell their shares in exchange for Techmex's buy-out of company debt. The transaction is to be finalized within the next few days. According to Plus Biznesu, the deal involves over 50% of Karen's shares. "I can neither confirm nor deny this information," said Techmex President Jacek Studencki. Karen Notebook currently owns 10 stores and four franchise operations in Poland, and intends to double in size by the end of the year. Techmex's operations are based on a network of representatives throughout the country. According to market insiders, the merger of the two companies will allow them to achieve a dominant position on the market and will be particularly advantageous to Karen Notebook. (Puls Biznesu, p. 6) M.T.K.