Piotr Kardach, CEO of Emax and future deputy CEO in the merged entity, stressed that the Polish IT market offers great growth opportunities but mainly to the big players. „The merged entity will be an unquestionable leader in providing IT services for the energy sector and an important player in the public sector. We are also hoping to mark our presence more on the foreign markets where we haven‘t achieved much so far,” Kardach said.
In 2005 the combined sales profits of the two WSE-listed IT service providers amounted to zł.1.2 billion as compared with market leader Prokom Group‘s zł.1.8 billion.
The initial assessments of the expected revenue synergy effects from the merger will be announced by the companies in a couple of weeks. Savings could exceed zł.20 million but the final figure will also be revealed later.
„With this type of transaction, cost synergies range from three to five percent of all costs and the annual costs of both companies amount to some zł.500 million. We haven‘t estimated these savings yet but even if they reached only three percent, it would still be zł.15 million in savings,” Sielicki explained.
The companies are still waiting for the green light for the merger from the Office for Competition and Consumer Protection.
KD
Computerland will buy a majority stake in Emax from the company‘s main shareholder, BBI Capital. As a result of a series of consolidating transactions, Computerland will obtain 65 percent of the total votes at Emax‘s general shareholders‘ meetings.
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