WARSAW (Reuters) - Eastern Europe’s top software maker Asseco Poland ACPP.WA may team up with some larger partner to become Europe’s No.2 and challenge market leader Germany’s SAP (SAPG.DE), Asseco’s CEO said.
“What we plan is not a merger but partnership to become second in Europe. I don’t even dream of replacing the No.1 player, SAP,” Asseco chief executive and key shareholder Adam Goral said at the Reuters Russian and Eastern Europe Investment Summit on Wednesday.
“We are not in any talks at the moment,” he said. “It seems comfortable for us in a five-year perspective. Give us some time to be successful in emerging markets to make it easier for us to be a partner.”
Asseco, player No.7 among European software makers, has built up its position via a buying spree abroad.
In less than a decade, the group increased its revenue from around 40 million zlotys ($13 million) to more than 5.5 billion in 2012, and is now present in around 40 countries, with Georgia and Russia added as new markets earlier this year.
“We have much bigger ambitions. It’s still the beginning,” Goral, 58, said.
“We must be stronger in emerging markets. We started to work on Africa and are close to finalizing a small buy in Ethiopia. We have a target in Denmark and think we can be useful for Angola.”
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($1 = 3.1229 Polish zlotys)
Writing by Adrian Krajewski; Editing by David Evans and Jane Merriman