Yesterday, management of Asseco and Prokom discussed details of the merger. If it is successfully implemented, a company with over PLN 5 billion (EUR 1.3 billion) of capitalization will be founded. Ryszard Krauze, the founder of the empire, who may be stopped by Central Anticorruption Bureau, will step back.
Before the merger, Asseco will buy from Prokom the stake owned by Ryszard Krauze. “PB” said first the merger was possible on August 3rd. The merger was planned next year but political developments – allegations against Ryszard Krauze – changed it. With PLN 5 billion of capitalization, the new company will be one of the biggest in this part of Europe. Merger promoters believe that its capitalization will double in the future.
The new Asseco will have very well developed product and client base, the latter including PKO BP bank, PZU insurer and Poczta Polska, the state-owned post.
Prokom acquired Softbank, one of Poland’s biggest IT companies with clients among banks, in 2002. The acquisition let it win a tender to implement PLN 0.5 billion project for PKO BP. In 2004, Prokom bought ABG for PLN 103m. Later that year, ABG merged with Ster-Projekt. Prokom became the biggest shareholder in both firms. In 2006, Softbank and Asseco Poland said they would merge. They implemented these plans in 2007.
(PLN 1 = EUR 0.265)