Software Mind, belonging to the Ailleron Group, sees a smaller number of “transactional” companies on the M&A market, but is still looking for acquisition of companies that will strengthen its position in the USA, Great Britain and the Nordic countries, said the president of Software Mind, Grzegorz Młynarczyk.
“There are fewer companies on the market that we would call transactional because their founders see that their growth dynamics is zero or even negative and they know that their high expectations will not be met by potential buyers, so they do not even try to enter the market with their companies. The second situation is that once they are on the market, expectations are high. We are mainly looking for companies that can strengthen our position, mainly in the USA, and when it comes to Europe – Great Britain and the Nordic countries,” Mlynarczyk said during a video conference.
He previously indicated that Software Mind expects further organic growth in 2023, but does not rule out acquisition due to the fact that it has a “large reserve of cash”.
The Management Board of Ailleron maintained the goal of the current Financial Technology Services strategy, which focuses on the commercialization of the LiveBank product in the cloud SaaS model and, as a result, improving Ailleron’s profitability to the level achieved by another company from the group – SoftwareMind and generating significant cash. EBITDA profitability for 2022 for Software Mind was 18.6% and for Aillerona 10.6%.
Ailleron specializes in building products and innovative technological solutions. The products are addressed to both the broadly understood financial and telecommunications sectors. The company is listed on the Warsaw Stock Exchange; is included in the sWIG80 index.