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    ASE   PLASSEE00014

ASSECO SOUTH EASTERN EUROPE S.A.

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Asseco South Eastern Europe S A : ASEE (Asseco SEE) acquired the companies IT Sistemi and eVision to strengthen BPM business

09/23/2021 | 06:22am EDT

• With this acquisition, ASEE confirms its position as one of the leading regional companies in the field of digitalization

ASEE has acquired the company IT Sistemi (ITS), one of the leading Croatian companies in the field of digitalization of business processes and document management in large systems, and the company eVision specialized in Enterprise Information Management (EIM), which is 100 percent owned by IT Sistemi. The acquisition is in line with ASEE's strategy to include new companies in the Group that improves its offering and solutions for existing and future customers in the field of full support in digitizing their business processes.

Damir Popović, CEO of IT Sistemi, said: "Every company is a living organism that develops and grows with its people. Thanks to our employees, we have managed to create and develop our own innovative products and solutions which value is recognized by many domestic and foreign organizations. That is why I see our entry into the ASEE Group primarily as the crown of our work so far and as an excellent opportunity for further development of our experts in a technologically advanced, global environment, in which they also have a lot to offer. I am sure that together we will achieve even better business results and ensure the satisfaction of our employees, as well as clients and partners."

Marek Sieczak, COO of the ASEE Group, commented: "In order to provide our customers with the most advanced support in the field of digitalization, we have put special emphasis on the areas of business process management and content management that add value to our customers and enhance our products portfolio. This segment of solutions and services will be a separate vertical of our business at the level of the ASEE Group. In this way, we open the possibility of complete internationalization of solutions and knowledge in this domain that exists today in the Croatian companies IT Sistemi and eVision, along with the already existing ASEE teams in Romania and Serbia. Therefore, I am especially glad that the teams of IT Sistemi and eVision have joined us with their expertise and extensive experience in this field. I am sure that together we will provide clients with an even better service on their digitalization path."

Current leaders Damir Popović and Zvonimir Mavretić still remain in the management of the companies.

With this acquisition, ASEE confirms its position as one of the leading regional companies in the field of digitalization. The acquisition is in line with ASEE's strategy to constantly expand the range of products and services through the application of modern technologies and innovations, thus constantly exceeding market trends.

About IT Sistemi and eVision:

IT Sistemi is one of the leading Croatian companies in the field of business digitization and document management in large systems. They have been operating successfully for 23 years, of which the last six together with eVision as a company which is 100 percent owned by ITS. With the joint market presence, and with over 100 Enterprise Information Management (EIM) experts, they helped in the digitalization of more than 100 organizations in public and private sector in Croatia, the region, and abroad

Disclaimer

Asseco South Eastern Europe SA published this content on 23 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2021 10:21:03 UTC.


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Sales 2021 1 130 M 284 M 284 M
Net income 2021 127 M 32,0 M 32,0 M
Net cash 2021 190 M 47,8 M 47,8 M
P/E ratio 2021 -
Yield 2021 2,10%
Capitalization 2 475 M 621 M 623 M
EV / Sales 2021 2,02x
EV / Sales 2022 1,85x
Nbr of Employees 3 022
Free-Float 48,9%
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Number of Analysts 3
Last Close Price 47,70 PLN
Average target price 45,70 PLN
Spread / Average Target -4,19%
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Piotr Jelenski Chairman-Management Board
Michal Nitka Chief Financial Officer
Jozef Klein Chairman-Supervisory Board
Artur Kucharski Independent Member-Supervisory Board
Adam Maciej Pawlowicz Independent Member-Supervisory Board
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