16 Oct Asseco International will take care of the international development of the Asseco Group
The Asseco Group has established Asseco International – a holding company, which will be responsible for the management, supervision and support of the development of the Group’s companies operating on international markets. It will not include Israeli Formula Systems and Asseco Poland. Asseco International will separate the Group’s international operations from the Polish market operations. Also, a separate team will be formed to deal with these international activities.
The Asseco Group is present in over 50 countries worldwide, and the share of foreign markets in the Group’s total revenues is over 80% and has been growing steadily. The establishment of Asseco International (AI) is an important step in the development of the Asseco Group’s operations on international markets. After completing all the planned changes, the Group’s operations will be divided into three main areas: Asseco Poland and the Polish market, Formula Systems and the Israeli market, and Asseco International and other foreign markets.
AI will be headed by Jozef Klein, the President of Asseco Central Europe, who has been involved in the establishment and international development of the Group from the very beginning. The President of the Supervisory Board will be Adam Góral. 96.55% of AI’s shares will be held by Asseco Poland, and 3.45% of the shares by the managers of Asseco Central Europe (ACE), who currently hold shares in ACE. The new company will be registered in Slovakia.
“In our Group, we have a proven development model of Formula Systems and we would like to repeat its success. We have established Asseco International because we have recognized that the current scale and potential of our international operations requires the creation of a dedicated team of experts, who will manage these operations on a daily basis. By establishing Asseco International, we would also like to separate our Polish operations from international business,” said Adam Góral, President of the Management Board of Asseco Poland.
Following the establishment of the new organizational structure, Asseco Poland’s managers will be fully focused on the domestic market, and the development of international companies will be handled by the management board of AI. The establishment of Asseco International is also a partial formalization of the operations of the existing Board of Directors of the Asseco Group, i. e. the group of presidents of the most important foreign companies in the Group. Jozef Klein, who has been the President of the Board of Directors so far, has been appointed the President of the Management Board of the new holding company and will guide further development of international operations. The Management Board of AI will also include: Przemysław Sęczkowski (the Vice President of the Management Board of Asseco Poland engaged in international operations of the Group), Marek Panek and Rafał Kozłowski. Also, the Presidents of foreign companies – Piotr Jeleński, Torben Falholt, Jose Antonio Pinilla and Daniel Araújo – will be engaged in AI’s operations.
“So far, the presidents of individual companies have focused primarily on the development of their businesses. By joining our forces in Asseco International, we are able to implement a truly ambitious international project. In the future, we are also not ruling out a stock exchange debut of Asseco International on one of the Western European stock exchanges,” added Adam Góral.
The registration of AI should take place within a few weeks. In subsequent stages, all shares of Asseco Poland held in Asseco Central Europe, Asseco SouthEastern Europe, Exictos, Asseco Western Europe, R-Style Softlab, Asseco Denmark, Peak Consulting, Asseco Lithuania, Asseco Georgia, Asseco Kazahstan and Asseco Software Nigeria will be transferred to AI. The whole process should be completed by the end of this year.