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Cyfrowy Polsat targets Asseco Poland

Cyfrowy Polsat has announced its intention to buy up to 18,221,000 shares in Asseco Poland, the country’s largest IT company.

According to Cyfrowy Polsat, the shares represent 21.95% of the share value of Asseco and have an aggregate value of up to PLN1,184,365,000 (€277,568,000).

It adds that in order to be able to successfully grow its operations in the future and focus on its core business, i.e., providing services and products to retail and business customers, Cyfrowy Polsat needs an experienced and reliable IT partner.

For Cyfrowy Polsat Group Asseco may therefore become a main technology partner, supporting the development and maintenance of its IT systems. On the other hand, specialised telecommunications services of Cyfrowy Polsat Group may be extended with Asseco Poland’s advanced services offering.

Commenting on the development, Miroslaw Blaszczyk, CEO of Cyfrowy Polsat, said: “An additional stimulus for Cyfrowy Polsat to its capital engagement in Asseco Poland is the fact that the IT sector is a driving engine of almost all sectors of Polish, European and the world’s economies. The cooperation of both companies may thus be a natural step in times of development of the Economy 4.0, founded on IoT, big data or cloud computing and 5G”.

Adam Góral, founder, main shareholder and CEO of Asseco Poland, added: “Results which we can jointly achieve give us even greater development prospects on the rapidly growing telecommunications and IT markets. By cooperating we can operate as the largest technology group and deliver the most innovative solutions to our customers.”

Cyfrowy Polsat notes that in case if the acquisition of a significant shareholding in Asseco Poland by Cyfrowy Polsat is successful, it will be the intent of Cyfrowy Polsat and Mr. Adam Góral, as Asseco Poland’s shareholders, to sign an agreement which will enable the execution of Asseco Poland development strategy. Mr. Adam Góral shall be responsible for Asseco Group’s strategy and all decisions associated with its organisation.

Zygmunt Solorz, main shareholder of Cyfrowy Polsat, said: “As a founder and main shareholder of Cyfrowy Polsat Group I can state that if Cyfrowy Polsat becomes a shareholder in Asseco Poland, to a degree in accordance with today’s announcement, it would be an additional opportunity for both companies to develop and establish a competitive position in the economy which is based on advanced technologies”.
Source: BroadbandTVNews

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