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Poles acquire Fiba and Net Consulting for 13.5m euros

10.05.2007, 19:28 12

The Polish IT company Asseco has acquired around 70% of shares of the Romanian companies Fiba Software and Net Consulting, through cumulated transactions worth over 15,6 million euros. "Asseco Romania, the subsidiary of Asseco Poland purchased the two Romanian companies on May 7. The company acquired 70% of the shares of banking and financial software company Fiba Software for 5.85 million euros and 70% of the shares of IT project integrator Net Consulting, for 9.78 million euros," according to company officials. "The acquisitions were financed with funds raised through a bond issue by Asseco Romania, 93% held by Asseco Poland," added Asseco representatives. The Polish company had announced in the second half of last year that it would make acquisitions in Romania, as part of an expansion plan involving takeovers in Central and Eastern Europe, but it refused to provide any further details. Asseco has already announced its intention to acquire two companies in the Czech Republic and another two in Slovakia.

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