Warsaw (Puls Biznesu) – The two IT companies want to merge. They are going to found a subsidiary in Ukraine within several days.
Infovide and Matrix.pl, two Polish IT companies, are going to merge. Infovide said it would submit an issue prospectus at the securities and exchange commission KPWiG in September. Infovide will become Matrix.pl owner while Marek Kobialka, the owner of Matrix.pl, will be the company’s biggest shareholder and CEO. The synergies include increasing Matrix.pl’s exports from 6 to 10 percent and sales from PLN 110m to PLN 180m (45.9m) within 12 months. The merged companies will be listed on the Warsaw Stock Exchange this year.
“We are just about founding a company in Ukraine. We believe this market has great potential. We already employ 20 people there”, Marek Kobialka said.
Matrix.pl is conducting one of the first contracts to implement Oracle software in Ukraine. In 2005, the company sold a business line Symfonia generating 30 percent of its sales and became an integrator. After the transaction, the company’s stock was withdrawn from public trade. The company planned listing in 2008 when the sales would exceed PLN 100m.
(PLN 1 = EUR 0.255)