Poland’s Asseco Buys Romanian IT Solutions Provider Probass

ASEE paid in cash 7.7 million euro ($11.3 million) for 60% of Probass while the remaining 40% have been acquired in exchange for shares in ASEE, the buyer said in a statement.

“This is another major milestone in building strong Asseco SEE. It also confirms our strong commitment to Romanian market, the region and expertise which is present here," ASEE president Piotr Jelenski said in the same statement.

ASEE has operations in Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Montenegro, Macedonia, Moldova, Romania, Serbia and Slovenia.

“Probass will be fully integrated with ASEE structures in Romania. Synergies are expected in particular in the areas of joint cooperation with existing software banking team in ASEE,” the company said. 

Probass, based in the capital Bucharest, offers sales and maintenance of own integrated IT solutions for banks and financial institutions. The company posted a 1.6 million euro net profit and 2.5 million euro in revenue last year. It employs 27.

($=0.6818 euro)