Biggest software firm Asseco Poland plans acquisitions in Africa [IntelliNews - Weekly Reports]
(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) CEE's biggest software company Asseco Poland is winding up audit of two small companies in Etiopia and is almost certain that it will enter this market, according to the company's president Adam Goral. Asseco is also interested in Nigeria and Angola, he added.
Asseco Poland has recently launched its business operations in Russia and Georgia. In 2013, the Group has been joined by the Russian company R-Style Softlab, a leading supplier of proprietary banking solutions, as well as by the Georgian Onyx Consulting (presently Asseco Georgia), a provider of consulting and implementation services for the sectors of banking, insurance and public administration.
The firm stresses that its development is possible thanks to the increasing sales of its proprietary software solutions. In H1 of 2013, such revenues reached nearly PLN 2.2bn, accounting for 78% of its total sales.
Asseco Poland also published its financial results. In Q2 of 2013, its consolidated net profit was PLN 87.6mn, down from PLN 90.7mn a year before, but slightly above market consensus of PLN 82.1mn. In H1 of 2013, the group reported net profit of PLN 180.0mn vs. profit of PLN 195.2mn a year earlier, on sales revenue of PLN 2,784.4mn vs. PLN 2,666.8mn, respectively.
The backlog of orders totals PLN 5.2bn and is 6% higher than in the comparable period of 2012. In H1 of 2013, the group signed almost 2,200 contracts, confirming good diversification of its business, Asseco also reported.
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