Till the end of this year, the merger of Elzab, the listed producer of fiscal counters, with Exorgio and Upos, companies producing IT solutions for retailers, will be concluded.
“We are building a firm which will have an important place in Central and Eastern Europe. Merger with Elzab, which has a strong position in the production of fiscal equipment, will help us”, Pawel Dudziuk, Upos and Exorigo main shareholder and chairman of the supervisory board said.
The group operates in Poland and Ukraine. It is looking for acquisition targets in the Czech Republic, Russia, Romania, Slovakia and Greece.
“Our clients launch operations outside Poland and they want us to support them there”, Pawel Dudziuk added.
The most important clients include Carrefour, Tesco, LPP or Empik Media&Fashion.
In 2007, Exorigo and Upos had PLN 98.2m (EUR 29.3m) of sales and PLN 10.8m of net income. Elzab had PLN 66.4m of sales and PLN 7.2m of net income.
“Thanks to the merger with a listed company we won’t lose several months to be listed on the WSE but we will develop our business”, Pawel Dudziuk explained.
(PLN 1 = EUR 0.298)