ZETO Białystok to join the Asseco Group

On 17 September 2012, the Management Board of Asseco Poland S.A. signed a letter of intent for the acquisition of shares in Centrum Informatyki ZETO S.A. in Białystok.

On 17 September 2012, the Management Board of Asseco Poland S.A. signed a letter of intent for the acquisition of shares in Centrum Informatyki ZETO S.A. in Białystok.

The letter of intent has been signed between Asseco and ZETO Białystok to determine the terms and conditions for purchasing shares representing 99.88% of the share capital of ZETO and the same voting interest at its General Meeting of Shareholders. The transaction value will reach approx. PLN 37 million.

Centrum Informatyki ZETO S.A. in Białystok is one of the largest IT companies in the Polish province of Podlasie. The company provides comprehensive IT services to companies, institutions, as well as to individual customers. It employs 210 persons. In 2011, ZETO Białystok generated PLN 71 million in sales revenues, earning PLN 4 million in net profit.

Business operations of ZETO Białystok fit well the implementation of the Asseco Group's strategy for building a firm with a country-wide coverage, but focusing on local markets to provide data processing services, outsourcing and comprehensive IT services for hardware and network infrastructure, security systems, teletechnical installations, and structured cabling. Such company shall act as a vendor, distributor as well as an integrator of information technology solutions.

The planned transaction will be the basis for creation of a new holding company of Asseco that will bring together leading integration companies operating in various regions of the domestic market. Shares in ZETO Białystok shall be acquired by Asseco Poland or its wholly-owned subsidiary Asseco Systems S.A., to which Asseco Poland is also going to transfer, by making a non-cash contribution, all the shares it has earlier acquired in Centrum Komputerowe ZETO S.A. seated in Łodź.