Asseco Poland enters new markets in Africa and invests in Portugal
Asseco Poland has taken over a controlling stake (61.38 percent of shares) in Exictos SGPS, a Portuguese IT company. Exictos operates in Portugal and is a provider of IT solutions for Portugal and Portuguese-speaking emerging markets in Africa, namely Angola, Mozambique and Cape Verde. Thanks to this acquisition, Asseco Group will strengthen its presence in Africa, after entering Nigeria and Ethiopia, and open up new opportunities for expansion in South American markets. The total transaction value is EUR 21.5 million.
Asseco Poland, the largest provider of IT systems in Poland and one of the major software vendors in Europe, purchased a majority stake in the Portuguese IT company Exictos SGPS. The company specializes in the production and implementation of software for the banking sector, serving more than 60 banks in Portuguese-speaking countries. The headquarters of Exictos is located in Lisbon, where 220 people are employed. The company conducts its business operations in emerging markets in Africa, such as Angola, Mozambique and Cape Verde. Exictos employs approximately 400 persons in all of its offices. The company generated over EUR 41 million in sales revenues for 2014, while its net profit reached almost EUR 5 million.
Asseco has pursued an active acquisitions policy for many years, hence today it is present in more than 40 countries worldwide. The takeover of Exictos will enable Asseco to enter new markets in Europe, Africa and Asia and, in the longer term, also in South America. Furthermore, this transaction will help boost Asseco’s presence in the Iberian region, while offering good prospects for cooperation between Exictos and Asseco Spain. Owing to this acquisition, Asseco Group will also reinforce its position as a global provider of software for the banking industry.