Wola Info joins WSE

Warsaw-based IT company Wola Info intends to raise zł.25 million from its WSE debut, which is scheduled to take place on September 11. The firm specializes in providing IT services for the telecommunications and banking sectors, though other clients have included PKN Orlen, Grupa Żywiec and RWE Stoen.

"We want to become a leader in the Polish IT market in the field of consulting and implementation of complex IT systems ... To achieve this goal we decided to get funds from the public market and increase our competitiveness by listing," said Piotr Majcherkiewicz, the president of Wola Info.

From the funds it hopes to earn from its debut, Wola Info plans to spend zł.17 million on expanding its offer, by developing its own products as well as acquiring the rights to implement technologies owned by renowned global software producers. The remaining zł.8 million will be spent on improving the firm's competitiveness in order to "create possibilities for larger contracts," according to Majcherkiewicz.

Meanwhile, the firm is steadily broadening its experience by serving different sectors. In 2004, 69.9 percent of the firm's revenue came from the telecommunications sector, while in 2006 that figure fell to 41.9 percent. At the same time, the banking and finance sector rose from a mere 3.7 percent of revenues in 2004 to 33.6 percent last year.

"We have managed to develop [the banking] sector significantly. Now we want to enter the industrial sector more seriously and we are still watching for state administration [tenders]," Majcherkiewicz said.

Wola Info is also diversifying its product portfolio. The share of services in total revenue has grown from just eight percent in 2004 to 36 percent in 2006.