Wednesday, 20 February 2013

Asseco Poland Announced Plans to Buy ZETO Bydgoszcz

Asseco Poland has signed a letter of intent on Monday, for buying 100 percent of the shares of the IT company ZETO Bydgoszcz, Asseco said in a statement. The share capital of ZETO Bydgoszcz amount to PLN 87.7 million.

ZETO Bydgoszcz operates in the segment of IT services for the social security sector, public administration and industry. It focuses mainly on IT outsourcing services, development of own software, as well as delivery and integration of modern information technology. It also provides integrated ERP solutions for medium and small businesses.
Among the company's key customers, there are the Agricultural Social Insurance Fund (KRUS) and the Social Insurance Company (ZUS).

In 2011, the company generated revenues of PLN 35.5 million and PLN 9.4 million net profit. ZETO Bydgoszcz currently employs 127 people.

Asseco Poland´s share price rose 0.83 percent to PLN 46.38 by 9:17 local time.

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