Teta builds its group

26-01-2007, 15:04

Warsaw (Puls Biznesu) – IT company bought Pyton, plans further acquisitions in Poland and abroad.

Warsaw (Puls Biznesu) – IT company bought Pyton, plans further acquisitions in Poland and abroad.

 

Teta, the company producing software supporting business management bought 70 percent of Pyton Management for PLN 10.8m (EUR 2.8m). The company specializes in knowledge management. Its products help to find data. Last year, Pyton had PLN 6.5m of sales and about PLN 1.55m of net income, over 50 percent better than a year earlier.

 

Teta is negotiating with two other Polish companies.

“We should announce another transaction in the first quarter”, Wojciech Dobrowolski, Teta deputy CEO said.

There are advanced talks with a Czech company going on. Teta is also negotiating with yet another Czech company plus two Hungarian rivals. The management expects that the group will have PLN 70-100m of sales and PLN 10-12m of net income this year. In 2006, the company planned PLN 6.4m of net income.

(PLN 1 = EUR 0.255)

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