Asseco Poland has announced it has bought a controlling stake, a 61.38% of shares, in a Portuguese software provider for the banking sector, Exictos SGPS. The total transaction value is €21.5m. The Portuguese company is a specialist in the production and implementation of software IT solutions for the banking sector and operates locally in Portugal as well as in the Portuguese-speaking markets across Africa, serving altogether more than 60 banks in this market.
Asseco says that the acquisition will help expand its presence in Africa and pave the way for the future opportunities in South American countries. Asseco has already established its presence in Nigeria and Ethiopia.
Exictos is located in Lisbon where it hires over 200 people with a further headcount totalling 400 people in the emerging markets such as Angola, Mozambique and Cape Verde. In 2014 Exictos’ sales revenue stood at €41m.
The Polish Group expects that thanks to this move it will also boost its presence in the Iberian region in Europe and will build cooperation between Exictos and Asseco Spain. Additionally, the company will enhance its position across the European banking sector, it says.