Mega-merger planned within Prokom IT group

03-08-2007, 12:41

Warsaw (Puls Biznesu) – IT assets of the group will be merged under Asseco brand. Prokom group faces revolution. It will take some time to happen, however.

Asseco Poland will merge with Prokom Software and ABG. This is a plan seriously considered by the managers of Poland’s biggest IT group. If the plan is implemented, a group with capitalization of over PLN 10 billion (EUR 2.63 billion) and very strong position in Poland and abroad would be founded. The group would probably operate with Asseco brand. Asseco has the biggest capitalization in the group (PLN 4 billion).

Despite connections within the group, the merger would be one of the most difficult in Poland ever. Adam Goral, Asseco CEO, is careful.

“The scenario of merging assets of Prokom group under one brand will surely be taken into account. It makes sense but there are no detailed plans or talks. This is a plan for the future”, Adam Goral said.

Today, there are four main companies within Prokom group, including Prokom, Asseco, AGB Spin and Comp. Each of these companies owns several to several dozens smaller subsidiaries. Prokom focuses on administration and big projects. Asseco is responsible for the financial and banking sector. ABG Spin is focused on agriculture, energy and health sectors while Comp for security systems. In practice, the companies operations overlap often. Hence earlier consolidation: Asseco merged with Softbank and ABG with Ster-Projekt and then with Spin.

Ryszard Krauze said already then that further consolidation was possible.

“The merger of Prokom companies under Asseco brand makes sense. Next to obvious synergy in operations, such a company would have a management and brand which are well perceived. The merger would speed up Prokom’s development which in turn would be a solid financial base for the growing holding”, Przemyslaw Sawala-Uryasz, CAIB analyst commented.

(PLN 1 = EUR 0.263)

 

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