Asseco: the largest IT company in Central and Eastern Europe

For 30 years, Asseco has been creating technologically advanced software for companies from critical sectors of the economy. Its companies are listed on the Warsaw Stock Exchange, NASDAQ and the Tel Aviv Stock Exchange

Asseco operates in 60 countries worldwide, employing approximately 29,000 people. It has continued to expand organically and through acquisitions, exceeding 110 since 2004 and 15 in 2020 alone. One of the key acquisitions on foreign markets is the 2010 acquisition of the Israeli Formula Systems group for $141M.

The Asseco Group is an international federation of companies. They are connected not only by common business goals but also by vision, values, and partnership relations. In 2020, the Asseco Group’s sales revenues exceeded $3.12B, which means an increase of 14% compared to 2019, of which nearly 90% came from international operations. In turn, the consolidated operating profit for this period amounted to over $311M, which means an increase of 25% compared to the previous year. Its activity was also well diversified in terms of sectors. Revenues from the sale of software and services to enterprises accounted for 39% of total revenues, to banks and financial institutions – 36%, and to public institutions – 25%.

“2020 was a perfect year for Asseco. Despite the high uncertainty on the market, we improved our results, strengthening our position in all segments and sectors of activity. The acceleration of digitization processes in companies and institutions made us focus on the best possible support for customers in the face of the pandemic,” said Adam Góral, President of the Management Board of Asseco Poland.

Asseco is the leader of digitization in Poland according to the “Computerworld TOP200” report for 2020 and the largest Polish IT company in Central and Eastern Europe according to the “TOP 500 CEE” – a list of the largest companies in the region prepared by Coface. In the latter, the company advanced by 15 places compared to last year’s ranking and by 34 compared to the edition two years ago. It also took 11th place in the “100 largest Polish private companies” rank prepared by Forbes magazine.

“Thinking about the development prospects, we are aware that the economy is in a difficult situation. Therefore we approach the future with moderate optimism. Our goal is to maintain a leading position in the sectors of strategic importance to Asseco: banking, insurance, energy, telecommunications, healthcare, and public administration. We focus on the further development of ​​our products and services. In addition to sector solutions, our priority is also ERP systems, payments and trust services. We will invest in the development of cloud products and cybersecurity services. We want to develop further through acquisitions and strengthen our competencies in individual sectors. We are interested in companies similar to Asseco: having their products, with a stable financial situation, operating in similar industries and whose owners would like to stay in the company after the acquisition and develop it together with us”, concluded Adam Góral.

Adam Góral

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