Cyfrowy Polsat announces an intent to acquire up to 18.221.000 shares in Asseco Poland – the largest Polish IT company. Development of cooperation between the Polish economy leaders is planned

18 Dec 2019

Cyfrowy Polsat is the largest and the most important Polish company in the media and telecommunications area while Asseco Poland likewise in the IT sector. Both companies’ future and development is based on an ability to create and implement products and services with the use of cutting-edge technologies.

Cyfrowy Polsat is focusing both current and future operations on its core business, i.e., media and telecommunications. New market trends require the preparation of services and products using state-of-the-art technologies which are based on the highest quality IT solutions. Asseco Poland is the largest Polish IT company, delivering its solutions to many sectors of Poland’s transforming economy.

For Cyfrowy Polsat, it is crucial in building its market position and customers’ trust to constantly provide solutions which are adjusted to customers’ needs. The customers demand services of the highest quality, which must be created based on effective IT solutions. Therefore, in order to be able to successfully grow its operations in the future and focus on its core business, i.e., providing services and products to retail and business customers, Cyfrowy Polsat needs an experienced and reliable IT partner.

For Cyfrowy Polsat Group Asseco may therefore become a main technology partner, supporting the development and maintenance of its IT systems. On the other hand, specialized telecommunications services of Cyfrowy Polsat Group may be extended with Asseco Poland’s advanced services offering.  

 “An additional stimulus for Cyfrowy Polsat to its capital engagement in Asseco Poland is the fact that the IT sector is a driving engine of almost all sectors of Polish, European and the world’s economies. The cooperation of both companies may thus be a natural step in times of development of the Economy 4.0, founded on IoT, big data or cloud computing and 5G,” said Mirosław Błaszczyk, CEO of Cyfrowy Polsat S.A.

“Results which we can jointly achieve give us even greater development prospects on the rapidly growing telecommunications and IT markets. By cooperating we can operate as the largest technology group and deliver the most innovative solutions to our customers,” said Adam Góral, founder, main shareholder and CEO of Asseco Poland S.A.

In case if the acquisition of a significant shareholding in Asseco Poland by Cyfrowy Polsat is successful, it will be the intent of Cyfrowy Polsat and Mr. Adam Góral, as Asseco Poland’s shareholders, to sign an agreement which will enable the execution of Asseco Poland development strategy. Mr. Adam Góral shall be responsible for Asseco Group’s strategy and all decisions associated with its organization.

“As a founder and main shareholder of Cyfrowy Polsat Group I can state that if Cyfrowy Polsat becomes a shareholder in Asseco Poland, to a degree in accordance with today’s announcement, it would be an additional opportunity for both companies to develop and establish a competitive position in the economy which is based on advanced technologies,” said Zygmunt Solorz, main shareholder of Cyfrowy Polsat.

The companies do not plan to merge and shall continue to operate on a stand-alone basis, but their joint potential will enable the creation of a comprehensive offering of advanced telecommunications and IT services.

Last updated 12/18/2019